I owned UTSI off and on in the go-go days. I well remember one year when UTSI was the no. 1 stock recommendation by Merrill Lynch at the beginning of a year. Of course it's been a disaster since.
After happening to notice the god-awful chart a couple of weeks ago I took another look at the stock, hoping for a few morbid laughs. To my surprise it actually looked too good to pass up so I got back in.
There's no need to imagine esoteric reasons behind today's move. This sort of jump happens all the time with small-cap, low-float stocks that have been scraping along the bottom for a while. The company buyback wouldn't explain it. I also doubt that earnings as such will be much of a catalyst, it's about looking ahead.
Shadow,you are the last person I would take investment advice from here, because you have been more consistently wrong about this stock than anyone else. This happens because in spite of your considerable knowledge about the industry, you invariably arrive at the same happy conclusion. How has that made any sense with the track record of this company over the years? Always enjoy reading your posts, just the same.
Shadow I appreciate your comments and persistence, hope it pays off for you. I keep the stock on my radar and notice it's been firm around 1.49 I think we're close to recession again so I will just wait and see for the time being. GLTA
Might be worth a shot if one has a long term view. Reversion to the mean might bring UTSI back from the dead. POS has been a loser so long, I wonder if it ever can regain their mojo. Terribly managed company, but a low risk price now.
I wonder if Shadow, one of the best informed and polite posters, is still holding on? Tiger and Basia seem noticeably absent as well as Tim. All good people who maybe gave up on UTSI.
I am still here and have been adding significantly to my holdings over the past 3 months. Interestingly, only 2 things about this company have remained constant. They are the continued presence of Hong Lu and continued stock ownership by Masa Son. Even the name has changed recently under the reorganization as UTSI is now a holding company. Masa Son, is IMHO, the Asian equivalent of Steve Jobs. His main interest is his passion for great technology with money being secondary. He comes from a very wealthy family and probably didn't have to work a day in his life. Yet, he has dedicated himself to the development of Softbank. Interestingly enough, one of his first jobs was to represent Apple Computer in Japan during the 1980's. Even at that early age, he had developed a reputation for being extremely bright, hard working and passionate about technology. His venture capital investments have earned billions of dollars of profit for Softbank from companies such as Yahoo, Alibaba and Baidu, not to mention his development of Softbank. I beleive UTSI's present business plan has his "fingerprint", so to speak, all over it.
Hong Lu is responsible for moving UTSI away from the telecom companies to focus on the cable industry in China. I remember clearly, almost 5 or more years ago, when he announced UTSI had won a small but significant contract with SARFT. I believe the significance of the seed planted at that time will shortly become apparent to all. Hong Lu may not have been a good manager of UTSI but I believe he is a great entrepreneur and will also, in due time, come to be recognized for this talent.
All of the above, of course, is simply IMHO. UTSI stock has been a loser for many years and I have lost along with many others. My biggest mistake was underestimating how long it would take for this company to turn around. Has that moment finally arrived? I think so....but we need to see the next 2 earnings reports for confirmation.