if i see something in the low $3 range tomorrow, i might grab it and sell it for whatever i can get, assuming there isn't another junk stock moving faster... but there is no way i'd ever pay $3 for this thing and hold it long in my portfolio. Trading is one thing and investing is another.
"the Company" isn't worthless as you say. It actually made almost a million dollars this month (from 4000 subscribing banks), and that ain't peanuts. DeBello, Clark, and Diamond pay themselves $1.5M in salary every year, over and above whatever they can scam from other income conduits (like insider selling), so this quarter's income has paid their official salaries for about 8 months, and that's all good. But that isn't really the problem, is it ?
The problem is that paper is getting harder negotiate with every passing day and, sooner rather than later, that minuscule corporate income will become insufficient to sate the greedy little appetites of Mitek company directors, and then "the Company" will do a sort of legalized Chicago bust-out. No, Mitek isn't worthless... it's worth $1.75 a share for anybody willing to take the risk of losing everything against doubling down. Because, really it ain't worth 4 bucks, and it's just as likely to go bust as it is to succeed.
nadia... i take it you'd rather indulge in pointless innuendo about me than read a chart, or face the facts. My trading strategy, i guess, is how you evaluate "the Company". It doesn't take much to make your day, and that doesn't surprise me much.
(So simple even a 6th grader could follow it.)
Just glance at the right sidebar of this Yahoo Message Board page. There you encounter the MITK 5-day chart. Take a good look at it, and try to guess how far MITK has rallied since the earnings report. Can you see it? Send in your answers, children, and i will grade your papers by tomorrow. Promise.
I think i'll call the bank to order up some paper checks, and photograph the whole booklet in one sitting; paper check binge ~ that always makes me feel better.
It's down a penny from yesterday's close, and down 64 pennies from yesterday's open (and yesterday's earning's report). Meanwhile the rest of the market is rallying fireworks. Like i said, it's probably just another evil Wall Street conspiracy the "big short" yeah?.
Well, Mr. Canterbury, i think we can safely conclude that MITK is up today, but that short traders have joined forces in a secret confederacy to convince us that it has shed 15% since yesterday's ER. It's clear however, even to a 6th grader, what's going on here: it's just a conspiracy of market makers out to scam retail shareholders of their stake in the Mitek gold mine.
What are you saying nadia? a 6th grader would conclude that MITK is making lots of money, and MITK share price is up today?
Now that is some serious slobber: trading at $4 on ER day (yesterday) -- ranging between $3.28~3.50 following ER. Sooo, "MITK is up" is it? No wonder thay can sell you these paper mache earnings reports... you could convince yourself of just about anything, i reckon.
BTW (and just so you're not inclined to misrepresent the facts as if this discussion were part of a penny stock ER) I bought at $4, averaged down to $3.90, and sold at $3.93... perhaps you are the fellow who bought those shares from me at $3.93. If so, thanks. Pleasure doing business with you.
i figured it out just after buying at $4 and just before selling at $3.93... that's the chronology, though it's irrelevant to this discussion. if it's my motivation that intrigues you, i bought on headline news (misinterpreting market sentiment) but sold after taking enough time to assess the real numbers in the ER. Does that answer your question, or is there more irrelevant banter to come?
the hazards of factoring minuscule numbers approaching zero... If Mitek showed net earnings of $5 in 1Q and $15 in 2Q, you could report an earnings improvement of 300%, but it would still just amount to $15.
MITK earnings are virtually non existent. You can multiply zero by a million banks, and it will still be zero. Mitek is nothing more than a make-work project for the 49 guys clocking in every day, and its market cap pays their salaries. Give generously.
Would making uninformed assumptions about an anonymous poster's age qualify as dumb? Or just foolish?
If you honestly believe that a company with 50 guys in sales servicing 4K banks, and drawing less than $1M to show for it, is good news, then just buy more MITK ~ it's cheap today. On the other hand, it might be a lot cheaper six months from now... It's ironic ~ i can make more money than Mitek flipping old houses for a few months.
49 full time employees to generate less than $1M off 4000 banks. yeah, MMs are head faking the share price so they can buy a piece of that $900K at a cut rate... is that the theory?
mediocre earnings. the company has virtually saturated its subscriber base (4000 banks) and still cannot seem to generate significant income. starting to look like a failed experiment.
i guess it doesn't matter since in this TVIX episode we are ostensibly the same person. what do you say we just split the tips?
Hey! I said it was going to be a good day for TVIX longs, first thing in the morning, so how come trem gets all the love and hugs?
Folks, if TVIX ever approaches $100, forget the stock market - Credit Suisse will have been dismantled anyhow - and use whatever trad-able goods you may have against guns, canned food, and construction materials to build a bunker. Then break out your Mad Max comiccon outfit.