Pierre, Leap Wireless is dramatically over-priced. They are making no profits. They have got expenses coming out their ears [hence the losses]. They've got debts to the sky with covenants on them too. They own a big chunk of a failed Mexican outfit [Pegaso] which is being sold off for a song. The price per minute they are getting is about the lowest in the industry. They can't provide roaming - handsets are only useful right there in town! Their arpus are almost as bad as that ugly word and maybe the lowest in the industry [and possibly the world for all I know]. The stochastic double-topped moving-average Macdee candlestick is cyclicly parabolizing into a concatenated convolution [which is BAD!!! for current shareholders - that's not BAD in niggar-rap either man, that's bad as in Axis-of-Evil] - that's share price technical analysis in case you're puzzled. I should mention ENRON and accounting here too.
If I'm to get a supersonic bargain, it needs to be priced in the $5 range. I cannot believe that people aren't selling it to me at that price!! Don't they understand all the negative things about this company? They think I'm supposed to buy some pie-in-the-sky earnings over the next 5 years? Well, the future is NOT very certain as we all know, even in the citadel of freedom and human harmony in the greatest nation this planet has ever seen where the most amazing humans this planet has ever seen go happily about their lives in synchronicitous bliss.
Look,this company is a dog! It is about time the existing shareholders realized that they should sell. NO I am not short [as you know, I'm fairly tall]. Also, I have NOT sold any stock I don't own. I just want it cheap so I can get rich!!! I should mention Enron again and Dr Schit of the Center for Financial Research and Analysis, which found nepotism, shares received as payment for CDMA licences had been entered as revenue, and something else which was too pathetic for me to remember [which is NOT due to age]. Anyway, Dr Schit's findings caused panicked, mindless, QUALCOMM shareholders to sell 56 million shares [give or take a few because of that Nasdaq counted-both-ways stuff] at big discounts in an up-day market. There was $4 billion or so wiped off QUALCOMM's market capitalisation and brokers made more than the $7 million which was counted as revenue [and will surely generate income for a long time] in the spread and the broker fees. What if Dr Schit notices the debts and accounting practises of Leap? What if he uncovers that Harvey White actually used to work for QUALCOMM. I would not be surprised if other Leap employees used to work for QUALCOMM too. Or maybe even Enron [it's possible!!] in the accounting department. Omigod, like, imagine if, you know, THAT was, like, to get out!!
Anyway, what if somebody used Leap, Enron, CFRA, accounting, losses, covenants, low arpu, Argentina, Osama, debts, Alan Green$pan, Monica, Pegaso, Enron, Vesper, Global Crossing, Globalstar and Leap again, all in the same sentence. I would have included Gary Condit but I don't know where he is. I have NOT put Uncle Al and Monica together for any particular reason, but imagine it! If Uncle Al retires to Santa Monica, I imagine that there will be a world-scale financial collapse. Leap will be in that mess too. I should mention Enron and accounting again here.
Okay, if not $5, then $7 and I'll take it!
Or, alternatively, I've got a Financial Review newsletter for sale. Send PayPal money now and get yours emailed, predicting the next big corporate sell-off today.
Mq
PS: Did you see that 67% of CFOs have had management ask them to cook the books? How do we know that Leap management isn't in that 67%? Come to think of it, how do I know there are actually any Leap customers at all? I haven't seen one. I have seen a big, nice-looking building with Leap Wireless written on the outside, just down the road from the Design Center building in San Diego on Lusk Boulevard. But maybe they rented that for the day so that I'd be impressed, as part of a global The Sting operation [the movie, not the singer]. Is there actually any Leap company at all or is it a big charade? If you want, I'll buy your Leap shares off-market to save some brokerage.
Edit... market check and although this has been out for several minutes now, there hasn't been a market collapse. Still at $8.58 [hmm, but that's on the 15 minute delay price... hang on, that means I won't see the price drop until after editing ends....okay, I'll report back on what the mention of Enron, accounting and Leap in the same sentence has done to the market after 15 minutes is up]. oops, markets are closed. ... will have to find out tomorrow.... |
