This company is slowly destroying the value of current stockholders. Recently they provided shares of stock in exchange for warrants at a discount of the original agreement. They also gave a golden parachute to a top level officer that left the company. They are developing bad habits. I came here with the objective of just expressing my discontent with a few moves, but right away some posters took it to silence me. Only pump and dump typestry to silence one with attacks. I do not know if these pump and dump types here are somehow associated with the company. Maybe they are fully independent investors running scare, and who do not want anything at al negative to be posted. Maybe they have large holdings that they cannot sell without losing a substantial amount of money. Who knows, but they are certainly very huffy and puffy about my initial posts.
The market has realized that there is something wrong with the way this company is being run. The quarterly releases should indicate that the price should be heading up. The PS, PE and other parameters indicate that the stock should be trading higher, but it is not. Pay attention to what the insiders are doing. Look at how they are re-arranging the ownership structure of the corporation. That is where the problem lies. Little by little they are squeezing the assets. That is why the corporation cannot make headway. The next time it makes a run, I am gone. I invest long term in companies that appear to have good long term prospects. The communications area in which IRDM is centered was what led me here, but I cannot let the money sit around. Positions that do not work out need to be gotten rid of. I suspect this stock will move up towards ten sometime next year, and then again something will happen to bring the price down.
This poster has made this point several times before. He gets really angry when anyone disagrees with him, which I have. He then calls them names, issues threats to them, and hopes they die.
This company's stock price is down, because it's disappointed slightly over the last few quarters. Its growing, but not quite as fast as some expected. Their business with the DoD is off due to the troop reductions in the middle east, and they've promised that will change next year but investors are skeptical.
This "golden parachute" he refers to (as near as I can tell from the recent 8-K) is that they replaced one executive with a new guy, and it appears the guy that's leaving gets one year of salary. Doesn't sound real golden to me.
As far as the exchange of warrants, that's been explained before. No one liked the additional dilution of the convertible offering or how it happened, but I'd have been really #$%$ if they let the warrants also dilute the equity.
I look at whether insiders are buying or selling, and management has only bought (no selling), and only GHL is selling and that's been explained by them and the company many times.
So, this guy is going to tell all of us how unhappy he is with what a terrible company it is because the stock went down after he bought it. He's obviously a short term investor, but you need to have a long term view with a company in the middle of building a new $3B satellite constellation.
Now I thought that was a pretty reasonable response, but watch how gleongelpi attacks me, swears, throws a fit, and then you be the judge.
Now, you are starting to admit that I was right. Little by little, step by step. What a joke. Little by little you will end up admiting that these group of insiders have either mismanaged the enterprise or milked the cow. I believe both. I no longer have any confidence int them. I bought some on the first dottom, then I bought again, but now I am disillusioned. Instead of being down about 20%, I could have at least be making a profit elsewhere. I do not make profits everywhere, but this is clearly headed nowhere. The market is with me. Other investors are agreeing with me. They are moving away from this investment as they see what is wrong. Like me, you actually made a bad decision. I am just recognizing it; you are not willing to do so.