Jake--To answer your questions about other investors in SETO who are not wired to SI, Yahoo, or RB. The answer is absolutely YES. This has been true from the start.
Let me explain. The official float of this stock is what 6? 8? million shares? Irrelevant. The TRADING/ACTIVE float is much, much lower. I must admit that this is an anecdotal opinion on my part but it is grounded in the following:
1. SETO is a small family managed/founded company that is public. The 144 shares and other direct insider shares owned by the Pian family are essentially taken out of the float.
2. This is a company with strong ties to Asia and the Asian culture, of which loyalty and commitment are very dominant traits. As such, I would suggest to you that there are several million shares owned by friends and the extended family of the Pians that have never seen a time and sales screen in years.These shares are technically part of the float but for all intents and purposes, they are as tightly held as Bill Gates' or Michael Dell's stock holdings...probably even tighter.
3. During the big sell off last year, management had no explanation for the decline. Why? Because they and their employees and family and friends had established positions and not sold a single share.
4. I have seen this stock fly(and tank) on volume that wouldn't budge other BBs.
It is my opinion that at least 75, perhaps 90 percent of the trading of this stock is done by people who are SI, RB, Yahoo, and other followers... most of whom have the concept of long term as holding over the weekend.
Do you think the aforementioned non-Internet investors are going to dump SETO should they delay a week or two in reporting earnings? And who will be selling if they don't blow out the .03 EPS estimate?
Day to day, the activity on these boards will most surely drive the direction of this stock. Long term will be a different story.
TG |
