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  • michelinelessard69 michelinelessard69 Aug 30, 2007 3:14 PM Flag

    GOOD MORNING, GOOGILLIONAIRES!:::::::::

    It may surprise you to learn that I am actually long term bullish on the stock. Short term, I suspect that we saw the bottom already. The stock is horribly beat up. If indeed this company is growing at a 30% rate or so, it would be the first time that I've ever witnessed a stock selling at such a steep discount to value.

    The real problem is that we don't know what the "real value" is. The company operates in a cloak of secrecy. Between that lack of transparency and the recent stupid moves of Wu the stock has hit such lows that ordinarily, people would have laughed at the notion of XING trading in the $8 range.

    Here's the crux: People have been burned by disingenuous business practices, lack of transparency and further dilution to allow Wu the opportunity to venture in a new direction. These are all uncertainties that have undermined the fundamentals as we presume to understand them. It takes time to "get over" all of this. IF the fundamentals are sound, people will eventually get over all of the negatives. That's where we're at right now and why (barring any more stupid moves) I think that we've seen bottom. Does that mean that I'm rushing out to buy? NO! People manage to buy bottoms all the time, but more often they find that the true bottom is further down the road. Klarissa is a smart person, yet look how many times they thought that they were buying a bottom! Bottoms can be elusive, so its better to wait and let the chart tell you when the bottom has been hit. How? Usually its illustrated as a change of trend which indicates a change of sentiment.

    Lets say that you buy right now. You very well could have made a terrific buy and got a low price. Someone is successful at buying the bottom. It happens-and that could very well be likely here. But lets say you're wrong and Wu pulls another stupid move. The downtrend is still intact. We could drop below book because of the inherent uncertainty.

    Would it be wiser to sit on your hands and see what happens? This is an individual decision. People that want to make safer decisions would wait until the downtrend was broken. Its a much safer bet. Sure, you pay up a bit for it, but you also remove the risk of having the stock drop another buck or two. I'm not saying that it will, I honestly think that the bottom is in, but it could. I'm watching for the change in trend and I'll consider buying when I see it. The market is all about making money and if XING is a real deal making money, people will buy. They need to show more transparency. Its still a gamble to buy it right now.

    People think that I'm angry because I've lost money here. I'm not. I express vehemence because it really frustrates me to see good people lose money due to stupid managerial moves. There's no reason for XING to be at $8.60 if the fundamentals are truly sound. The only reason for the stock to be this cheap is because of stupid moves by Wu and company. Sure, it might make for a great buy for someone, but I tend to think of all the good people that got wiped out because of misplaced faith in shithead, self centered management.

    Is there any valid reason why XING can't file quarterly? Why shouldn't they improve public relations and pre announce earnings? Are they just lazy, or are they inept, or are they hiding something? These are valid questions and only XING management can answer them. They're also the reason that the stock is in the mid $8's. Sorry this is so long. I almost don't feel that I've even answered your question or said anything of value. If not, I apologize for that.

 
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