Bought in Big on Last Week's NewsThanks for your thoughts Beast, very helpful.
I bought a ton a this stock on the news of the new product and the big order. The company is selling at 10 times earnings yet growing at a rate of 30% a year. What's not to like?
I believe the only thing holding it down in the short term is that they issued 167K options to the firm that did their placement last year, convertible at $.90, which expire next month. I would bet that those guys are shorting stock against those options since there is so little time left before they expire. Once we blow through that overhang it should be smooth sailing up to $1.35, the strike price of the warrants.