If IMOS was a United States company it would have rallied strongly on its reported results.But,because of its convoluted corporate structure,with subsidiaries and other partial owners etc.,investors cant get its arms around this stock.Also,unfortunately management is not savy when it comes to P.R.nor have they been able to create shareholder value by moving aggresively to buy back its stock when it trades as such a low valuation.Eventually, we hope these impedements will be removed and the stock will ultimately trade on the basis of its earnings and prospects which look very promising.Until then,I think we will not see the true value of this company reflected in its stock price.
Swindonhines misspelled the name. The difficulties with the Byzantine structure have been made clear as has a timeline for its resolution and the listing of imos on the Taiwan exchange. the sell-off yesterday was said to be based upon disappointment over there not being a buyback -- the expectations for which were unrealistic -- and the relatively low guidance for the next quarter. Swindon, resistance on Monday was at 11 and today is at 10. Support came in today about 9.40.