Dow Jones News reports "rumor" of 3Com buyout in range of $7/share. This the apparent raison d'etre for COMS' 15% share price today. Might be the right time to "Sell - rather than buy - on the rumor".
The $7/share private equity firm rumored buyout price reported by Dow Jones would represent a 58%+ premium over today's opening COMS share price of $4.42. As Ernest Hemingway once wrote, "Wouldn't it be pretty to think so?"I don't buy that - even $6/share would be a 35%+ premium. So took advantage of today's frenzy to unload my entire position in 3Com - a firm that's seen 3 different CEOs (so far) this year. Time will tell if that was a wise or 'foolish' decision....Best of luck to all,BDI
Well, all I can do is sit back and hope you're the foolish one! This was my first stock when I opened my Roth earlier this year. Wow, seems like a lifetime ago........but I bought at $5.12 before I knew anything better, so I'm stuck with riding it out and also hoping for the best. Wish I had been more Foolish back then, but was foolish on this stupid stock so now just have to ride it out! Sure do hope they go to $7, I'll be very happy with that! Cheers!
COMS actually got above your $5.12 buy price - for about two nanoseconds - on Thursday. But since you've got it in a Roth presumably you're prepared to hold onto it for many years, and you may yet do okay by hanging onto it.I bought it at just under $5 and managed to get out a little above my buy price Thursday. I don't necessarily think COMS is a bad stock for the long haul. But it embodied similar speculative risk characteristics as another stock (TINY) I own, so I thought I should decide between the two and shed the other. COMS is, in theory, a "turnaround" story which - if successful - could reward you very handsomely down the road. Going through 3 CEOs in under 12 months, however, gave me reason for additional pause.....there's some "issue" there that's opaque to the individual investor......that made me uncomfortable.Good luck!
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