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UTStarcom Holdings Corp. Message Board

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  • davecarneyinc davecarneyinc Jul 8, 2011 4:20 PM Flag

    Hello Again

    >>>Yes, please explain why the company is priced below cash and book value?<<< First, this is only temporary. The stock price was in $2.60 range (roughly 2x book) at beginning of May, just 2 months ago. Everything you mentioned or, that has been mentioned on this board by short sellers, was known then, and there has been NOTHING significant that has changed since then, other than positive contract news. What has changed is that stock was dropped from Russell 3000 because it became an ADR from Cayman Islands (9 million shares forced to sell)and erroneous Bloomberg article (picked up by 2 other news services also) that named UTSI as a "Chinese reverse merger company"(only because of Cayman Island switch to UTStarcom Holdings) and article told how SEC was investigating these companies and shutting some down (totally false about UTSI being investigated) This scared the pants off of small retailers and brought in large number of shorts. This stock has many times doubled or tripled in a month or two after being beaten down by same type of erroneous news (which I revealed each time back then as I bought). The "Market" didn't know anything back then and was certainly majorly wrong then when it went below cash and book value each time, and the "Market" doesn't know anything now and is certainly wrong.

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