This company -- the market leader in enterprise portals -- could almost be had for free considering its cash position and $0 debt. Why is this company not being bought or taken over at this price? Very strange.
In this current environment, an efficient little company like PLUM with earnings and an established customer base would seem to be an outstanding pickup for a larger player wanting a bigger piece of the portal market.
What do you make of the refusal this past Fall of the $5 buyout offer?
I know for a fact that the original IPO price was supposed to be in the $15-$20 range, but was forced down by market conditions.
Perhaps the brass honestly believes the company is worth at least $15 and is unwilling to let go at these bargain basement prices?
Let us know what you think, you old rosy bump you.
I have a similar view as you. This company will be bought at some point -- maybe this year. I was also aware of Plumtree's recent refusal of the $5/sh bid offer. A very good sign indeed! I expect it to be sold in at least the 8-10 range. I'm holding. This is the kind of company that will trade in a tight range for some time but will then suddenly skyrocket. I have learned to pick good companies and then be patient. I did this recently with FHRX after buying a bunch in the 3's and selling in the 8's.