No other explaination. Not just scammed, F'ed in the rear.
I've never been scammed like this in a stock. I guess it will be a life lesson for me.
Still very infuriating, and I'm sure over the next few weeks and months we'll figure out exactly what happened.
I tend to agree. The stock got hammered for half a year now. The market env. cannot be accounted for our downbeat.
Competitors with worse fundamentals didn't get THAT slammed.
chicago, are you saying by management? I've been hammered worse than I care to admit. But there's no way this co. isn't making at least .80 this year. Management has nothing to do ith the current action IMO. This is a big holder liquidating because of the LEH/BS/AIG fiasco. GigaMedia will probably make $1.00 next year in EPS. With no debt, $100M in cash-flow that is staggering. But it just doesn't matter in th post-financial-9-11 market.
I agree with you, I'm not blaming mgt for the overall market downward trend. However much of the overall problem has been focused on companies not disclosing their problems on a more translucient basis. This sound like anyone we know? GIGM mgt has caused some of the problem thru their lack of disclosure, correspondence, promises of launches, the M4$ fiasco etc....to its shareholders. Uncertainty is like poison to a stock. I'm not suggesting this is the only issue for gigm but mgt needs to take some of the blame for this situation. Would it have mattered? I'm not sure but it couldn't have hurt. jmho
It matters plenty Heez. As soon as there is a concrete bottom under this stock (and I'm not betting on when that will be) do you think it will shoot through the roof right away. With so many other thrashed investment opportunities out there and relative freeze/evaporation of liquidity, I doubt GIGM's going to be high on anyone's buying list.
That said, rational fundamentalism will come back to the market and this stock. I'm already anticipating that if I can dollar cost average in at $7, $6 or whatever even lower - it won't take long to recover and surpass where we were even a 10 months back.
Until I see a fundamental flaw in the company's execution, I'll not part with any shares and I'll be anxious to put new monies to work building a very powerful investment.
None of us are happy about losing any money especially when its senseless. But evaluating the company's opps / fundamentals is the one thing we can control. The rest, not so much. So roll the dice on this or any other investment opportunity. I'm willing to bet you won't have much control over their values whether, Stock, Commodity, Real Estate or other.
By the way, if this goes too much lower I can always use the stock certificates to heat my house this winter.
Heez-no, I'm not blaming management, although I'm frustrated with their silence. They could have done something here.
I was more referring to the overall market and pirates that run the market.
It's really depressed me the lack of protection for retail investors like you and me.
I seriously feel like going to the mountains with my family, buying some guns, and living in a fall out shelter.