I had a small gtc which hit in the very low .80's. Earnings sucked, and the company has been firing on no cylinders.
But its still cheap on a tang book basis, and their sector has been very hot with lots of the micros putting in great qtrs. Obviously wex has bucked the trend, and has performed poorly in a strong environment...guess that says something about management. I just figure that if the environment stays strong, wex may be able to generate enuf biz to turn a profit in a couple of qtrs...then the stock could double off these levels. And if they dont, downside seems limited.
Anyways, I'll buy more if it heads lower...into the mid .70's.
Earnings and revenue did not look good. All this is happening why the big guys like FLEX have increased revenue over prior year's quarter and much increased profit! It appears that the big companies are doing better and the small companies are doing worse. The recession has really helped the large companies relative to the micros. Some microcap companies are doing well however.