Management just threw in the towel in response to a question
When asked if they still believed in this business model as a standalone business...the CEO's response was basically..."no...someone please buy us...."....he didn't truly answer the question....talked about the on-going difficulties of needing to get to scale...that it was a difficult business...but again...never really answered...it was sad...I own 8,000 shares and they are going to $7 without a doubt...I am selling 4,000 at a large loss and keeping the rest in the hopes of an eventual buyout
I hate the idea of using "hope they get bough out" as an investment strategy. Though we wouldn't even need a deal to see the stock go back to $10.50... just a report alleging a potential offer would bring nice increase to the price.
I have a lot less invested than you but money is money. I don't know what to do. I think I'll try to hold on today, listen to the earnings call when I have tonight and make a decision. I really thought about selling yesterday at $11 and hate myself for not doing it.
I sold. Took my first loss ever. I should have sold at $11 and ran right before earnings. There is a chance I would have held longer if the board of directors weren't just reelected but between the idiots running this thing and the dim outlook for the rest of the year, there's no hope for this company until 2014 (and that's in a best case scenario).
I figured I can hold the stock for a year and hope to just break even or sell then invest it elsewhere and hope to break even that way. I'd rather invest with someone else.