RE:RE:RE:RE:RE:RE:RE:RE:Sell Off?Wish I could give you a more decisive answer.
On one hand this company has increasing revenues, not declining like many tech companies. So we should see a nice move up once this tech sell off is over. A larger percent of revenues are recurring as well since the acquisition. Another positive is there should be some technical support around the $15-$16 level. I’m not a technical analyst so could be wrong there.
On the flip side if we break that support we can go a lot lower. When a company has no earnings investors struggle to have a fair value share price. Another negative is that it feels like everything management has done lately to “improve” the company has really hurt shareholders. Who does a 7-1 consolidation, worst multiple you can pick to divide shares. With such depreciation in tech share prices, the acquisition is looking pretty expensive to some right now as well.
I personally think Management should have tightened their belts and reported positive earnings last quarter to preserve the share price. Hopefully we see this in next quarter report.
So frustrated with myself for not selling earlier and start nibbling again at these prices, but can’t win them all, Haha. Congrats to you for getting out and picking up some energy stocks.
GLTA