Last time CIEN was at $1.74 was Apr 2005. Let's compare
Let's look what CIEN looked like back in Aprl 2005 versus now:
Sales for the 2nd Quarter of 2005 were $103.8 mil. Earnings were a loss of $75 million. A loss of $132 million for the first 6 months ending at Apr 30, 2005.
Cash back then in 2005 were $900mil while now $1.1 billion. Debt back then in 2005 was $900mil while now $800mil
Sales then were $103.8mil while now on the last Q just reported $250mil
Profits back in 2005 were a loss of $75mil, while now a PROFIT of $40 million.
So the company has grown (more than doubled in fact looking at their sales), they are profitable, have free cash flow and more money in the bank, yet the price is the same as back in 2005 with half the sales, huge losses, less cash and more debt.
I couldn't agree more about the "scoop-up!" And sometimes, when a company with an illogically depressed stock price is taken over, the acquirer agrees to pay a price based on the stock's average value over, say, the most recent six month period--plus a premium. This could work out to be $25 or better. Or am I dreaming?