Has this investment turned into a pile. I talked to investor relations a few weeks ago and asked if Iwas going to get hit with a surprose earnings debacle. They gave me some bull jargon, lied to their anallysts , sold a secondary offering on poor informatnion, unloaded 1 million of their own shares from their corp 401 and THEN announced poor earnings. They were surprised the analysts and institutions dumped them. What poor management responsibility from a bunch of well educated, but poorly bred leaders. I'm still on board, with an IBD eps of 28 and rvs of 2 and A/D of an E, only because the drop was so presipitous I was stuck. I should have bailed when the price went from 23 to 18, certainly when it bacame a loser for me, but I was confused with general market dropping and with the asian situation and didn't realize, how could I, that SMCI was going to do allthis poor faith business. I believve now that other than offending investors, institutions and analysts, that SMCI is undervalued and will improve over the next two quarters. I do feel "foollish" holding a stock that I wouldn't buy. Any ideas out there for me on this one? Thanks.
Well, the lawsuits seem to be on their way.Not a good sign. Of course, it was not good tohear about that unloading either. Unless theiridea is to buy back these shares at the lowerprices, it obviously doesn't show much faith in the company. It isn't public all that long either. From what I understand is that their products aregood, but that the competition is very good, too.Sorry to hear you lost money.Fausto.
Ciao Fausto,You lose some and win some. This one was my own fault, the falling rvs should have tipped me off, going through the 200 day average should have spelled it also, then when it approached the loss point I should have bailed. However, I rationalized all of this with the market action, then with the asia crisis. The lesson is, when you are getting into a hole, stop digging. Thanks for your interest.
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