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Although Corel reported earnings of .14 v. loss of .14 last year for this Qtr., and beat estimates by 100%, they changed their symbol (to CORL) so no one can find them and boost the price. Under the old symbol (COSFF) there is no mention of symbol change. Had to listen to last night's conference call to even hear about it.
So a good chance to see the stock soar is lost. But the company is expected to continue the good reports, and eventually people will find the new symbol (TSE symbol also changed to COR).
WordPerfect for Linux could be the catalyst for this company to get out of the small cap ranks. But I expect at least a buyout attempt within the year. Be it IBM, Oracle or others who receognize WordPerfect's superiority over Word, and Corel's astute effort to get it loaded on millions of sub $1000 computers. Corel's office suite could replace MS Office on the sub $1000 pc's, which is where the growth is. Those who learn WP won't want to learn something new, and will pay to upgrade WP. As Linux gets installed on more PC's, and WP's GUI allows many people to own cheap PC's with Linux and WP, Microsoft will be caught off guard. Corel is already teamed up with giants in the field for millions of annual PC sales.
Too bad today's announcement got lost in the symbol change. Last week's pre-announcement set the stage for a real run when actual earnings report was released. Oh well, MSFT was a good buy when their market cap was under $300 million. Now it's Corel's turn.
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