profitable earnings. New IPO today.... watch it fly next week.
from Briefing.com today :
11:05AM AlphaSmart prices its IPO below range (ALSM) 6.00: AlphaSmart prices its IPO at $6, below its expected range of $8-$10. ALSM is a provider of technology for the education market designed to reduce the cost and complexity of computing devices in the classroom. The co has sold 1.1 mln AlphaSmart devices in over 7,500 school districts and has recorded ten consecutive years of profitability with annual sales near $40 mln. Each platform includes a device with a keyboard, display and application software designed to support educational tasks such as writing, keyboarding, assessment and outlining, as well as special needs applications. Teachers can control applications, file transfers and access through the teacher's desktop computer. The No Child Left Behind Act of 2001 has helped because it requires investing in educational technologies... The poor pricing of this deal is a bit surprising as it's only a 4.4 mln share offering and the IPOs this week have generally priced fairly well. Also, education stocks have been popular this year. There does not appear to be a lot of interest in this deal, and the large number of IPOs this week appears to be diluting investors' appetites. This is a Jefferies & Co-led deal and will begin trading this morning.
Sorry for treading on your board people, but I would have to agree with you on this pick. This looks like a good investment to me, especially at this price. It is odd that it is stuck so tightly at $6.00 and it will be interesting to see what it does a month/year or so from now, or once news starts filtering in.