RE:RE:RE:RE:Stupid Cheap
If it gets to 1.41 sell and never look back. That is if you are not one of the Diamond game employees that posts here. At the time of the ipo I was told Canacord and Cantor held most of the shares not held by Amaya. Most Diamond employees knew the company well enough that they did not buy. Did you read the transcript of the earnings call? It is on yahoo finance. It's hilarious. They discuss Wether or not they are going to do the buyback or use the measly amount of cash on hand for m&a. If you look at the date of the call and the date of the buy back announcement it would seem to me, and I could be wrong, that the necessary paperwork would have needed to be already in the pipeline. Considering the lack of cash to do m&a my opinion is that the buyback is a means of helping those close to the company to bailout before it's too late. They also. Are already making excuses for why the first quarter will be weak. They claim the first quarter is historicaly weak. Ask anyone in the gaming industry and they will tell you that the first qtr of the year is 2nd best qtr historicaly. Do you know what you own? You own Diamond game and that is all. Diamond is innovas only holding. It is located in California. The lottery business is really tough. As soon as these guys make any kind of appreciable progress and spend all the time and money to make inroads the big boys will waltz in and crush them. If it was possible I would short this to .05.