Can someone who is more familiar with this stock please explain why it is trading for half tangible book value? By all standard metrics, this stock is EXTREMELY undervalued and could easily double. However, as a new comer, I am not familiar with the story. Sketchy management? Scandal? There must be something here that I'm missing. Thankyou to anyone kind enough to shed some light.
I usually don't look to historical price action as an indicator of future price action...but in this case, I'm thinking the continuous selling as well as insider selling is an indication that earnings will be terrible. I will definitely be looking to buy if there is a severe sell off. I'd love some shares for 14!
I'd say a few shorts closed out their positions during todays unwarranted sell off. I applaud anyone who went short NTWK before earnings. However, the time to buy is now. I truly do feel for those who took a beating on this thing, but if you think this is going down its only because the deep emotional trauma you suffered while losing your home has triggered a defense mechanism which results in you climbing aboard the short bandwagon. Only problem with that is that the smart shorts have begun unloading shares and taking vacations with their 100% profits...LMAO. This will be back at 6 shortly and then I'll probably jump ship because, while NTWK is definitely undervalued at this level, management is also up to something and I'd rather get out before we find out what it is.
if you mean too good to be true...yes it certainly seems so. I bought the other day after the BIG dive and have added slightly more today on the weakness. I am thoroughly confused about why the market is discounting this stock so heavily. I understand management has mislead investors but what I'm particularly confused about is the insider buying earlier this year and WAY higher prices. I generally look to insider buying as a buy signal, but this is the type of thing that makes me doubt my ways. Only time will tell what direction this moves in. Long for now at an average of 5.05 so I'm not sweating just yet. I see a pop in the immediate future.
there are clearly some large holders (still less than 10% owners) of the companies stock who are taking any and all opportunities to sell. Unofortunately, I see this heading back to the low 7s before it heads up. One thing for sure though is that with every positive quarter the cash hoard gets larger and larger and eventually the share price will reflect it. In my experience (I have traded LF on and off for years), the mid 7 range is a pretty safe. I would not buy above 8 though right now.
I think a secondary is a bit much. There is no need for an offering given the company's cash position. Further more, if there were to be an offering (and a subsequent plummet in share price) I would buy tons of shares. I understand the pain of just getting beaten and beaten on a stock that you think is heavily discounted, but just keeps diving. I understand the emotional trauma that investors are suffering and I understand that a great way to cover up those feelings of stupidity and regret are to jump on the short bandwagon and say this is headed to 0. However, as someone who has not lost their net worth with this stock I feel that I am capable of looking at it objectively (as opposed to those who had to sell their cars to cover their margin defecit), and I see a company that is HEAVILY discounted by a market where stocks with similar fundamentals are trading for 4-5 book with no problem.
Just remember, when you think it couldn't get any worse, it does. Then, when you think it REALLY can't get any worse, it does. then...when you THINK you have cleared your head and decide it can get worse, it gets better...and you kick yourself all the way home.
PPL on this board are emotional. In one week there will be new people on this board talking about how much of a value play built into a growth play this is. lmao. traders are just cattle. They get scared easily and move all together. See you guys at 6 in a week or two.
only a moron OR someone who just got slammed and is letting fear control their decisions.
I don't mean average for the whole day. Clearly todays gain (whatever it ends up being) is a forceful one that represents the overall sentiment that things are looking up for MITK. What I mean is that any low volume spikes (like the one that just happened at about 1:30pm today) will be erased because they are the result of over active MMs, not massive purchasing. MITK exemplifies this "low volume/big move" phenomenon quite well. When a 10k share trade moves the stock ten cents, its a safe bet that MM's are just having fun and they will take it back down once they are satisfied. Not claiming to be an expert on MITK, just claiming to understand the context of volatile trading enviornments better than some idiots.
They won't admit it, but there are plenty on this board who just piled on at 6.15-6.20 because they thought "oh man, MITK's on a run!"...had they simply noted that the volume which moved MITK 20 cents in 1 minute was nothing compared to the volume that it took to move it up 30 cents for the day, they might have realized that they should just wait a little longer and buy it for 20 cents cheaper.
My official predicton on MITK for the day is that it will close at around 6 plus or minus 5 cents, representing a nice, well supported (given volume) move to the upside. Longterm shareholders are happy and the future certainly looks bright.
I honestly do feel for all of you who lost money on this stock, but you need to understand that you're negative outlook is just a defense mechanism to displace some of the shame your all feeling. This stock is a buy at these levels and will soon see atleast a small bounce. I too almost bought NTWK at 7 something but decided to wait while I tried to learn more about the company. This new price is an obvious buy for anyone who is not scared for life from the loss you've already sustained.
In at 5.25 as of Friday, and honestly, I'd be okay with a price drop because I'd like to add a bit more. The same thing happened to me with INVN when I bought at 15 only to see my shares go down to 10. Had I removed the terrible emotion I was feeling from making that mistake, I might not have missed my chance to buy in the 9s and ride it all the way to 20. Don't make the same mistake. Stick around...how much further could it fall?(LMAO...rhetorical question)
strong sell = extremely emotional = not smart investing. Buy high sell low and get too scared to buy again...that sure is a recipe for success. LMAO.
I think you're missing the bigger picture here. The market is literally pricing the stock as if they are closing their doors and firing all their employees. Bottom feeders will come in and perc this thing up once the heavy selling wears off. This stock is so thinly traded that any attention could pop it sky high. The only thing that confuses me is why the CEO was buying on the open market at double todays price earlier this year. It shows that he may not know exactly whats going on. On the flip side, it may mean that he sees an incredibly bright future for NTWK and doesn't care about the in between. Either way, this is a buy at current levels. When insiders start dumping at these levels, then I'll be concerned about the future.
Strange that CEO bought tons of shares earlier this year at prices much higher than current price. Either he knows nothing about his company, or he is supremely confident about the future and doesn't care much about a little 50% decline. Comments?
analysts these days just do coke all night, then go on finviz in the morning and say buy anything with a P/E of less than 10 and enough money in the bank to cover their bills...they are a joke. Never buy companies you do not understand.
you'd wanna look at tangible book value with a stock like this. Zagg carries a hefty sum of Intangible assets on their balance sheet. These intangibles are being steadily written off, but Zagg still claims intangibles are worth 53 million. Do you really think they are? Tangible Book Value is closer to 2. Don't be fooled by the balance sheet.
Poison Pill will prevent Carl from carrying out his original plan. However, after this earnings miss, the stock will drop to around 14 and Carl will use his two board seats to push for Ricci's resignation. Looking to buy tomorrow AH or Friday morning during the intense sell off.