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Back in January IDTC faltered under $10, from 30s a year ago, after and amidst a series of analyst downgrades:
Most of CSFB, Jeffries, BTAB, Bear, Friedman, Hambrecht, Lazard Fréres, and even Kaufman Bros downgraded the stock to hold, few buys (which were strong buys before).
Many of us know that "hold" in effect means reduce. What were the motives of the houses to downgrade it at ridiculous prices? Did the reasons for downgrade change that much in the meantime?
Soon enough, IDTC turned around and found technical support in the lower to midteens.
Amidst the internet frenzy the idea of NET2phone was born and heavily shopped, bringing the stock to an intermediate high of $35, also thanks to the IPO backdoor effect. The idea was or is that N2phon might be spun off once, and from other backdoors we may see what happens with backdoors. Thats for the one part.
In fact, not too much has changed with IDTCs other business recently. Based on the market cap, N2phon must be a huge sucess to influence IDTC substantially. But except for few days the IPO market is in no way as it was in January or April.
So IDTC appears to be what I call full valued.
This thread should openly discuss emerging facts and possible developments. While dissenting opinions are welcome, it is not dedicated for personal assaults.
Kind regards
(Disclaimer: The Author went long IDTC from $11 onwards. Now he has a Delta neutral position. From time to time he hold options on IDTC. The Author is in no way affiliated with IDTC or one of its known related parties).
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