You have been in the market as long or longer than I have. The stock market never ceases to amaze and humble me. One week my stocks are shooting up, and I feel like a genious. This week I'm trying to explain to clients why we are losing money.
The low volume and lukewarm response following the last conference call is surprising to me. Pete Petit was oozing with confidence. We have been down in price since the end of December despite Petit saying MiMedx would be the industry leader by the end of this year.
"was talking with a spinal surgeon about his knowledge of Amniofix, and his primary concern was reimbursement."
Good point! Pete has said the name of the game is reimbursement. The FDA ruling in the next few months looms large. I'm a little concerned if Amniofix is pulled from the market, it will be out of sight and out of mind. We all know it has enormous potential, but it is important that it be allowed to stay on the market. The perception of its possibilities seems more important now than the revenue it is currently generating.
The market is probably being cautious about factoring in Amniofix with the FDA still lurking in the background. This is the same FDA which published an Untitled Letter on their website. I've owned this stock for years Doc, but I think it will be a huge blow to this company if Amniofix has to be pulled from the market for a couple of years. We should see a huge rise in the share price though if Pete and Bill negotiate a favorable settlement. I'm suspecting we will know by May.
Pete stated new distribution partners besides MDT would be added in 2014. This will increase sales and exposure.
Most on this message board assume a buyout within 18 months, presumably because Pete is over age 70, but Bill Taylor is perfectly capable of running the company. Time takes time, but those willing to wait will be rewarded for their wait. I tend to think the value here will unlock itself in due time.
At least Suraj didn't ask the same stupid questions three times on this call. He is improving, albeit slowly.
We should be over $10 already, but I'm retired. I have nothing but time to watch this story unfold. I thought they would sell this company for $25 a share, but after the call this morning, I'm thinking more.
Pete was very emphatic when he said they would be the industry leader by the end of the year. He stopped just short of saying they will tear the competition into little pieces.
I've followed Pete Petit for a long time, and made very good money investing in his earlier companies. I've never heard Pete more optimistic than he was today. He was absolutely oozing with confidence. This morning was the final boarding call for $7.
The company is in their quiet period. I realize the 52 week high was on December 31 and we have been in the red all year, but that won't last. You have been around this stock long enough to know when it moves, it will move in a hurry. Take a chill pill and relax.
Perhaps I should have said an unprotected short position with infinite exposure. A $10 call limits the damage to $3 or less if the stock happens to skyrocket, and 15 cents is cheap to buy that insurance.
The price paid for those contracts was roughly 15 cents. Although it might appear to be a lot of contracts, it isn't much money. Also, some of those calls might have been purchased by Pearson and friends as protection in case their short position blows up in their face. 15 or 20 cents is really a pretty cheap price to pay for insurance from a naked short position.
Are you running the streetsmart edge platform, and do you like it? I find there are different benefits between Schwab and Etrade so I enjoy using both websites, although I still can't figure out how Etrade is reporting March 3 as the next earnings date here. Was March 3 the original date and did management change it?
I tend to find the brokers at Schwab brighter than the brokers at the other two. I don't have an account at Fidelity, but I manage money for somebody who does, and my experience there has been dismal.
Schwab has the correct date. Fidelity has corrected their date, but Etrade still shows MiMedx reporting in March. This is not a sales pitch for Charles Schwab for getting it right, but where do these brokers obtain their misinformation?
I've noticed that different online brokers are reporting different dates for the next quarterly earnings release. The company has issued a press release regarding this matter. Where do these brokers go to obtain their information?
Pete said he was working to get the two remaining MACs personally. This has to be gratifying, and it opens up huge markets. I hardly see where Florida can hold out much longer as the lone wolf.
I had thought $12 by the end of January, but we will get there soon enough despite Suraj and Pearson. Strange bed partners those two.