Here's an update. I bought 3300 shares back on 3/5/09 for 0.73. Today: Sold 700 shares for $5.32.
Still holding 2600 shares. The stock price seems a little toppy now, but LT has more upside.
Another update: Twodogs80 sounds like a broken record, and is quite annoying.
I dont think so pal. you wish. You would have gotten out at $5+. and IMHO could have bought them all back under $3. DOW's gonna tank in couple of months (i belive down trend has started), could be as bad as March or even worse. Personally I think we are headed down to 7200-7500 range.
I am an ex-corporate employee who watched the stock rise and fall all over the place since 1999. I am long ODP and when it hit .69, I told my husband "we have GOT to buy this stock". By the time I had a discussion with him and we decided how much to buy, it had risen to $1.02 which is where I bought.
I think this CEO sucks, but CEO's don't last forever and I don't think ODP is going under. I felt the stock had tremendous upside and little downside (especially from a dollar).
Just to clarify - I don't have any insider info. I haven't spoken to anyone in corporate in over a year and when we do, we talk about which people are still there, not the propects of the company.
Glad to see other people who are
getting in on the under valuation
theory here. You will be greatly rewarded when you finally sale out.
I bought in thinking it was way to under value and have made a sort come back because of it. My gains and leverage now allow me to expand 10 fold over even more companies.
ODP has turned out to be my gem in the ruff.
I may not always agree with how they
run the business but cannot complain has an investor since March 2009.