This message board has reached the point at which it has pretty much no bearing on the stock that it represents. It is like an adolescent's twitter account now. I have posted what I have thought to be useful pieces of information and get replies like "Oh, so you molest children." Half of the posts now are simply bashes of the board whipping boys. Unbelievable....I invested in this stock back in 2007, mostly due to the death of a family member who, had he been diagnosed early on his melanoma, might be alive today, and based on what I believed to be accurate information and the assurance that FDA approval was "just moments away." Green investor? Yep. No one's fault except my own naivete.
One would think that after 6 years to promote the product to the dermatologists, conduct endless trials, lobbying, etc., that when it finally did get FDA approval 5 years later in November of 2012, there would be a line of physicians jumping at the chance to have it their offices. Has that come to pass? Not even close. Yet the board of directors continue to cumulatively earn close to a million dollars a year while the stock slowly declines and has now reached a low of $1.45. I'm done posting. Grow up, people........
Sentiment: Strong Sell
Geo. I understand your bitterness. If you are familiar with my posts you know that I too lost a friend to melanoma, and I also know that an earlier diagnosis would most assuredly have saved his life. Unfortunately the world does not always work sensibly. The blame for the -so far- failure of MELA cannot be aimed at any one group. The basher hyenas on this board are reprehensible and a despicable lot to be sure, but are insignificant. Government bureaucracy and inefficiency is also a culprit as is wall streets financial manipulations. However, all is not lost yet. MelaFind will survive as a valuable medical tool, and Mela Sciences may yet succeed regardless of the wall street jungle.
As an investor I hope you were prudent enough to not make the common mistake of over allocating your resources to any one asset or asset class, and again - it aint over till it's over.
Java, believing as I do on how the device is here to stay, from your vantage point, what is your (collective) opinion for a buy out either soon, or being considered further down the line? Sam
P.S. buyout is generic for partnership or some kind of change of control.
"Geo. I understand your bitterness. If you are familiar with my posts you know that I too lost a friend to melanoma, and I also know that an earlier diagnosis would most assuredly have saved his life. "
Really, and what prevened a correct diagnosis?
Did a doctor misdiagnose him?
has now reached a low of $1.45. I'm done posting
lets be clear he is done posting because it is at 1.45.......not due to any of the bashers opinions. Just another long frustrated at the company and decides to blame the bashers.
Just to be clear, I am not long on Mela, have not owned it for years, and I am certainly not blaming the bashers for the mismanagement of the company. The mismanagement of the company falls squarely on its CEO. I was merely blaming the bashers for their infantile behavior on the message board.
"I have posted what I have thought to be useful pieces of information and get replies like 'Oh, so you molest children.'"
There's been some talk at F.E.E. Headquarters that you never actually denied the allegation.
Geo, I would suspect from the articulate tone of your post that you will not walk away with nothing from your experience owning mela. In the long run, you will actually earn more than you lost on this stock for no other reason than you have already identified what it is that led you astray. Unlike certain longs on this board, if you are smart, you will learn from your mistake and avoid making it again on your next stock purchase.
Hell..... my biggest F-up with respect to the Market was believing the same hype about VE a decade or more ago. I didn't take time to truly (and objectively) look at the macro developments going on in the world, the market and industry and (on paper) have thrown away around $40K and the loss of capital opportunity. That does not mean I actually "lost" as this is just one of the costs of doing business. I learned incredibly valuable information from my mistake and have added millions to my account since that time.
I believe that the best teacher in the world is Failure. I tell my staff that I EXPECT them to fail. If they don't, I call them out on it because that shows me that they are playing it too safe. I want them to fail; I just don't want them to fail at the same thing twice because that means they are just stupid.
Don't take your mela failure as all negative. Take away valuable lessons on how to better invest the next time.
Good luck and good hunting.
You have my condolences, geobedj. Notice that the short sellers are all over this message board and are in cahoots with MELA management to destroy shareholder value. I arrived at the same conclusion as you did over a year ago. MELAFind is an overpriced unreliable toy that has sucked the money out of investors.
Out of curiosity, having reached the conclusion that Mela was overpriced, and a toy - did you follow that sense and then short the hell out of it - which would have made sense. Or did you instead just continue riding it down into oblivion? Just curious about your logic.