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BIOLASE, Inc. Message Board

  • war3xtft war3xtft Oct 7, 2004 12:10 PM Flag

    Buyback in retrospect

    Does anybody doubt that the price per share would be lower without the buyback? It seems to me likely that it would be -- significantly lower.

    At the same time, the company would have more cash, because it wouldn't have spent that on the buyback.

    Add those two factors together, and were it not for the buyback, the enterprise value of the company might be approaching zero. THAT would be a good reason to buy.

    I'm trying hard to think of any reasons to buy in the current situation. Right now, I can't come up with any. To my mind, the price should have gone down more than it has on such terrible news, so even bottom fishing doesn't seem appropriate at this moment (even for those of us who like to engage in that practice from time to time).

    So why am I not selling? (And I'm not.) Just stubbornness? Who knows. I'll try to figure it out and get back to you later.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Asking myself the same thing- why am I not selling? I think it comes down to belief that this is the future of dentistry and the technology will (hopefully) overwhelm managerial stupidity.

      • 2 Replies to giannmi
      • That about sums it up for me. Good point!

        I did however like that they took today's horrible EPS/top line news as an opportunity to materially lower Q4 expectations. As ridiculous as this may sound, I think they did us a favor if we can hang on until Q4 earnings (i.e., "over-deliver" scenarios have a chance to materialize). That of course will not be easy w/ elections, terriorists lurking, rising rates, etc. Time will tell.

        Good luck.

        Perfidy

    • <<Does anybody doubt that the price per share would be lower without the buyback? It seems to me likely that it would be -- significantly lower.

      At the same time, the company would have more cash, because it wouldn't have spent that on the buyback.>>

      That's why I didn't like the buyback and don't like the buyback.

      That's why I called them "games"

      I think BLTI has a great product and great potential but management needs to be shown the door.

      DD

      • 1 Reply to donchiandude
      • The buyback was the correct thing to do!! The aggressiveness of the buyback was the problem. They should have a permanent buyback program. All the shares they bought back at 9-10 they could have paid 7 for. A company with increasing shares outstanding is a junk stock. BLTI, will turn it around. I may sell now and buyback in a month after wash sale rules.

    • It's classic. EVERYONE HATES THIS STOCK!

      Let's talk in 3-5 years.

      • 2 Replies to mississippijohnhurt
      • "It's classic. EVERYONE HATES THIS STOCK! Let's talk in 3-5 years."

        I bought WCOM at 2 bucks a share on the same logic, less than a week before the announcement of the fraud. Oops.

        And no, I don't see BLTI imploding like that, of course. But it does make me reeeeal careful this time around.

        So. Let's be careful! Let's talk fair valuation for Biolase given the new information and reasonable projections. No bashing, no pumping, just some honest thinking about how to value the company.

        Somebody else has to go first, though. My brain hurts right now.

 
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