I spent some time last week observing VNX's shufflers at Circus Circus and was unimpressed with what I saw. One of the random plus shufflers was being worked on by VNX service reps. Many of the Poker One shufflers were missing the front latch-like piece, and both models of shufflers looked bulky and obtrusive. The Poker One I watched was remarkably noisy. The dealer had to place a weight on top of the cards as she placed them in the shuffler and this process was both cumbersome and ergonomically awkward. The pit boss had to help her out on several ocassions. At the table I observed there was only one player playing and it took the shuffler longer to finish its shuffle than it took to deal a hand so there was down time between each hand spent waiting for the shuffler to finish its task. Oh so sad. <g>
Just as with VNX's earlier generation shufflers I'm sure there's a market for these new shufflers, but I'm conident after seeing them in action they will be limited to third tier properties just like the earlier generation junk, and that VNX will be forced to offer them at "deal prices" just as one would a poorly designed car.
If this is what the ScamMan has been claiming would knock SHFL's socks off then it's further proof on his paucity of knowledge about this industry. VNX product is further behind what SHFL has to offer than ever. This fact coupled with the reality that VNX's balance sheet has gotten materially worse over the last year or two makes VNX stock an excellent short, IMO.
Finally, a VNX long that can see past their pom poms.
Do I think going short VNX at this time is a bad move ? Yes. Forget about fundys, balance sheets, P+L statements. This pps is being manipulated IMO.
For the record, I do not equate "idiot" with 'bad market calls' and have no clue re your IQ.
I know a lot of really smart folks who have made some really bad moves in the M. Likewise, we all know people with significantly lower IQs who have consistently done great in the M.
Do I think going short VNX at this time is a bad move ? Yes. Forget about fundys, balance sheets, P+L statements. This pps is being manipulated IMO. No reason to think the trend stops at $3.30.
In addition, I have actually been selling some shares recently (wanted to buy something else) and have had no problem selling above the bid. Actually was surprised because we all know the difficulties encountered when trying to get out of a thinly traded stock - someone(s) want this stock &/or pps up. I think the price goes higher. (Longer term your analysis is correct and IF IF the fundys do not change, company is toast.)
Your question must be rhetorical, since you would hardly expect an idiot like me who makes brilliant plays like shorting VNX to have the equity to go short more than 27500 shares. It is repeated idiocy in the market that has left me so broke that I am unable to go short more than 27500 shares of VNX without feeling exposed to too much risk.
By the way, I shamefully admit that my gross proceeds are only about $77k, not $80k.
To summarize, being short 27500 shares IS putting real money on it when you're only pj!
What's A "messly"?
You have to forgive corticalchatter--he was most likely attempting to come down to your level. He probably figures anyone shorting vnx isn't too bright. And if so, I would whole heartedly agree.
GO TEAM VNX GO
The thing is notnu, I 'do' understand your anxiety about the valuation and other issues you voice. The part of the equation you're just simply missing is the very subjective view, of the not too distant future. I see it far differently than you do. Now you can debate til the cows come home, the 'odds' of a successful and dramatic turnaround, but at this point it would be like one hand clapping. I've made my wager mainly on the talent and creativity of management. I believe you are now seeing the early signs of changes starting to manifest themselves. That being said, you and others are certainly welcome to offsetting points of view.
Happy Thanksgiving to you and yours,
Isn't it nice to see how 'evolved' our resident bear has become? Not a single foul-mouthed slur... and only a few feeble attempts to incite, not bad at all~ (never mind his spelling .. never has been worthy of much over a 4th grader's level anyway)
Fortunately for VNX shareholders though, his diatribes continue to fly off into cyberspace like a misdirected cell phone calls... off the mark and hopelessly confused as ever...
So go ahead and short away old friend... join in the fun if you're so confident that VNX management turning this show around, as you play with your watercolors.
After all, nothing like being consistent when it comes to investments.. and your track record of calling on VNX shareholders to 'take the $1.60 before it falls to a buck' or some such nonsense, had so much wisdom and investment acumen ... that all who read your words, (what was it, just two months ago)?, will surely respect your opinions even now! (NOT)
You tire me bob. I guess I'll just have to reconvene class here one of these days and hope that eventually, even YOU might get it.
I hear MUSIC !