Trish,
Welcome to the MGAM thread. Yes, my MGAM investment is helping to offset my ANCR losses, which makes it a little easier to take. It still isn't easy, but it is easier. <g>
I understand completely your hesitation in getting into ANY stock based purely on someone else's opinion. After ANCR, I'm not sure I trust my OWN opinion anymore. <g>
As far as MGAM goes, they are in their second quarter of the current fiscal year. The quarter ends March 31. The annual meeting is scheduled for March 29th. There has been no announcement of when earnings will be released. I do expect MGAM to be profitable in the current quarter. How much, I don't know. The SEC documents available on Edgar, along with the press releases on newsalert.com give a pretty accurate picture of what the company has been doing.
If you go back through the thread here, you will see a couple of messages that give an indication of why I think MGAM can do $30 million in revenues this year. You should also find references to some of the potential revenue streams that we are all hoping materialize. Bear in mind that most of us here are in MGAM at the $6.00 level, so we are already up 50%. How high can MGAM go? I don't have the answer to that question. When doing my research on MGAM, I came to the conclusion that the $8-$9 range was a probably first stop. We are at that level now. The next stopping point (on the way up) should be somewhere north of $12.00, but I have no way to predict that for sure. The downside risk should be to about $6.00, but it depends on a number of issues, including federal regulation. This quarter's numbers should be very enlightening as to the direction to expect from the company.
As far as a buy or sell recommendation, I can't say. I haven't bought any above $6.00, but others have and have seen their investment increase in value. After our ANCR experience, caution in this or any other investment would be prudent.
I also paid the margin price on ANCR. You won't have to worry about getting into margin trouble with MGAM. It isn't marginable. <g>
Craig |
