A few years ago this was a $4 stock. It was there for a reason.
According to Yahoo Finance this stock has over 80% institutional ownership. At some point they need someone to sell to (i.e. bag holders). The way to create buyers is through good publicity. This is a media company. They specialize in publicity so of course they are going to be good at it.
I see PR very similar to what I see in shell companies. Obviously CBS is not a shell company but the way the people talk about this company seems all "fluffy" to me.
I suppose only time will tell but this economy is very tough and I don't see people connected to this stock being honest about that. I also see very little mention of the revenue miss. How do you act like everything is on target when you miss analysts revenue targets?
You know very little about CBS. The 80% ownership applies ton the CBS B shares which have no, know, bubkis say in this company like VGiacom. Sumner Dedstone owns 79% of the CBS A shares which are the voting shares. Before the swhares were $4, they were $35 paying a buck a share dividend.
That's enough for todays lesson. My read is that you don't own a round lot of CBS.
I do not own CBS shares. I will not own CBS shares ever most likely. I'm not talking about "say" in the company. I'm talking about a lot of shares that lost a lot of money on the way down to $4 and I'm sure there were some very unhappy people in high positions. Those people are going to be looking for a way out at some point. They can't get out without enticing new money. I assure you that I do not need a lesson. I've debated with guys like you many times for many years.
In 2002 when I created this account I spent hours debating with people pumping Sprint PCS stock. They were nowhere to be found in 2003 or since.
In 2010/2011 I was having this conversation with people pumping DNDN stock.
Talk your big game now but you can only squeeze a certain amount of earnings increases out of mostly flat revenue streams.
NOK was paying a big dividend just before that stock collapsed. Dividends are sometimes used as a golden handcuff for new investors while the old money finds its way out.
The bottom line is I see a lot of fluff press releases. Only time will tell if they can back it up.