To: Todd D. Wiener who wrote (2615 ) 12/18/1997 7:58:00 PM From: Peter V Read Replies (2) | Respond to
<< "The 'INDI' was created for the purpose of recognizing companies which
have demonstrated exceptional financial growth and rewarded their investors as
well," said Jonathan Steinberg, editor-in-chief of Individual Investor.>>
A bit of historical perspective for those of you "new" to this stock. In 1993 and 1994 my broker convinced me to buy this stock. I bought 2,000 shares because he told me that he had visited the company, management personally told him that the company was going to be profitable the following quarter, and everything looked rosy. About a month later, the company announced they were taking a massive charge and a huge earnings hit related to slow Christmas sales, and were switching to CD-ROM-based games that didn't require as much lead time or capital to manufacture. The share price tanked before I could react. In 1995, the company had a 15 to 1 REVERSE SPLIT and took my 2,000 shares to 133. My investment was rendered so valueless that it wasn't worth selling.
I forgot about the stock until recently, and it's finally getting back on its feet again. It's been over four years since I first bought the stock, and I'm STILL showing over 40 percent loss. My broker maintains that the company flat out lied to him and the other brokers at his firm, and that a lot of his clients lost a great deal of money as a result. Yes, maybe it's partly my own fault, but I got the living hell beat out of me on this stock. So when I read that THQ is getting an award for "rewarding its investors," I get a sick feeling in my stomach. Just a little perspective on the company ...
