The guy just hired has too powerful of a CV for a pump and dump scam; something's up beyond what's showing. But you're right about the possibility of 10 and a collapse; even good companies do that until some real profits roll in.
I've never seen a chart like this And it's an acronym of my handle! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1059501>
Well, I guess part of the reason is in todays news on this puppy. $300 mil? Could be time to lock & load.
This looks to me like a perfect castle in the air, if you know what I mean. It's gonna fall down eventually. Doesn't matter if it goes to $10 before it falls down or not because when it does fall down, it'll crash hard and will go way below what it's selling for right now. I really have no experience though, but the company looks like crap. Just my 2 cents
Look at their financials. They seem to be getting worse and worse, but the stock keeps rising and rising. Either someone knows things I don't or the only reason the stock is going up is because people are hoping it will keep going up so they buy. Don't underestimate the power of greed...prices of completely worthless things can skyrocket because of greed, but they eventually crash in a panic. Is a company like that worth a market cap of 164.36M? http://www.fool.co.uk/news/Comment/2003/c030715b.htm
It's a developmental company, so that's usually what the financials look like. As stated before, it's a crap shoot. Interesting that the latest board member is a Harvard lawyer type that has heavy M & A experience. Another hire's last job was running a $100 million portfolio of sub-prime automobile receivables. And even though the financials "seem to be getting worse and worse," some entity just agreed to front them a $300 million credit line. At the very least, "someone knows things I don't," in your case, is most likely true. Stay away from this pos would be my advice (to you).
I have tons of MNCS (wont disclose but ALOT) And with the NAS and DOW faltering it is nice to beable to make easy money with this. Its like getting twice my daily paycheck for no work. I was tired of buying stocks only to watch them fall the next day 2-5 percent on some stupid news or indicator. MNCS is easy to trade..cause there is no trading. Buy and hold. Make $$