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Ocean Power Technologies, Inc. Message Board

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  • msburko msburko Jan 26, 2012 3:13 PM Flag

    American Council On Renewable Energy (ACORE)

    Yup. This news is a good reason for the recent 0.55 pop.

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    • There's no news dude.

      This is just a company fluff peice that will lead to a flop after the pop.

      Who do you think will be tricked (other than day traders) by an article with the highligted quote being from 2004! Eight, count them all, 8 years ago a Navy guy said " The Navy is pleased to see a technology that addresses a Department
      of Defense need also have such
      tremendous commercial potential.”

      A couple a points, first if there really was tremendous commercial potential, what has happened in the last eight years. Back then OPTT was actually selling the Navy small bouys to power security devices. But that ended in failure about 2008 and while the Navy continued funding research those research grants have expired and have not been renewed. And what of the Hawaii PowerBuoy project? It's over. It's expired without renewal.

      Secondly, when a company reaches back eight years for a quote, that is an admission that in the intervening eight years, its been all down hill. Which is why I consider OPTT a failure in progress.

      So after the pop will come the flop.

9.09-0.05(-0.55%)Aug 26 4:00 PMEDT