Fire Sale on TINY Shares - 30% Off Net Asset Value
Perhaps they deserve it. Expense ratio is too high, relative to their exits. However, the stock appears to be bottoming. One hidden asset and yes this is real, is their net operating loss carryforward. I would estimate this to be worth at least 50 cents a share on top of the differential in the trailing NAV - current share price of $1.24. So if the NAV could be utilized, we're selling at a 40% discount. If there's a change of control, they'll lose their NOL. No need to worry; they'll do anything to hold on to their jobs. This is not a stock for value investors. In a banner stock market year, the biggest losers become even bigger losers (tax loss harvesting), so I'll give them until March of 2014 to see if it's worth holding.
The so-called fire sale has been on for at least 2 months running. Does anyone know if they still hold a bunch of Solazyme shares? I don't see this information readily on their website anymore. I've been anticipating a run-up in Solazyme as they ramp up production next year.
Cheers to us lucky suckers holding onto this little gem.....the market has been in a bull run for a couple of years now, and here I am with a big holding in a really #$%$ company.....I gotta think I put my money on the wrong horse in this race....nano technology.....I should have bet on 3D printing ;-)...any good robotics companies??
Added a little bit here. Was looking at their holdings and noticed the pH sensor--it was reviewed in C&E News and I remember thinking--wow! I wish I could get in on that company! They will replace all the pH meters (I hope!).