To: clue who wrote (85 ) 12/22/1999 12:41:00 PM From: Arrow Hd. Read Replies (1) | Respond to
Clue, I think you may be right on who drove the volume. One of my associates took a look at the numbers and told me this morning that there were a lot of trades that were below a 1,000 shares but there were some in the thousands too. I have a fairly large position which I continue to hold but I bought it a few thousand at a time so anyone doing an analysis may not have concluded that there was some level of accumulation going on. The revenue numbers and growth plus the fact that they managed to be profitable drew us into the stock. It ran to nine late last year based upon being featured in a newsletter by James Stock who may be somewhat affiliated with the company as an advisor. Anyway, IMHO, it was this visibility and the extremely low float that drove the share price appreciation. Since then visibility has been non-existent, their PR firm was pathetic, their "investment banker" was some BB sweat shop in Texas, and we had a guy named Elliot Ness (who may have been an ex-officer of PCCG) driving a smear campaign designed to hurt the company. Unfortunately, EN was very successful. Though PCCG has been reluctant to discuss this episode, there was an article in a newspaper in California that aired the issues and the current CFO, Don Johnson, was quoted as saying they were going to take some kind of action. Since it was a sensitive subject we stayed out of it. Now there seems to be much more focus on moving the business forward. There are a number of initiatives in the works that hopefully will be successful. It has taken longer than I had hoped though. A normal position trade is probably less than six months though I have a few still from this time last year that were slow movers too but now are four to five baggers. We will just wait this one out.
