MITK rose 13% on Monday. At 2 p.m. there was a spike in volume with a peak of over 100,000 shares traded in one minute. Final volume was over 2 million shares versus 10-day average of 370,000. One reason that Saul exited MITK was the less-than $250 million market cap.
The only news I can find is the news that the stock rose over 13%. Earnings are due out 27th with estimates for $.03, $ 0.05 and $0.07.
I held on to Mitek because of the 90% margins and the belief/hope–for some reason–that the sales expenses would grow at lower rate than revenue.
Anyone else still holding MITK?
KC
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Anyone else still holding MITK?
I held onto mine until a week or so ago. It seemed to be going nowhere. Oh well!
I held onto mine until a week or so ago. It seemed to be going nowhere. Oh well!
A stock that seems to be going nowhere—Is not going down. Might be signaling that it wants to go up, but needs a little push. Nobody wants to be first to push it up and selling continues. But it doesn’t go anywhere - and then the selling stops and it starts to get positive vibes and it starts to inch up ever so slowly. “Oh well”
IMHO the key words are “Patience” “More Patience” and “Do More Nothing”. Many portfolios could show improvement with a lot less activity. Every time anyone hits the buy or sell buttons they give themselves another 50% chance of being wrong. Unfortunately a sale with a 50-50 chance of being wrong, also gives you the opportunity of then redeploying the cash received to buy something else which gives you another 50-50 opportunity of possibly being wrong.
Doing nothing prevents you from having to make a lot of 50-50 decisions to possibly be wrong with each one.
b&w
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Still holding and added to the wife’s IRA last week.
Expecting a good sales report, evan better forecast, concerned about the head count affecting earnings!
Has been quite a few sales wins that will be working thru the system by the end of the year.
Europe has been quite active.
Over all I expect a positive report!
Long (MITK)
A stock that seems to be going nowhere—Is not going down. Might be signaling that it wants to go up, but needs a little push. Nobody wants to be first to push it up and selling continues. But it doesn’t go anywhere - and then the selling stops and it starts to get positive vibes and it starts to inch up ever so slowly. “Oh well”
Buyandwin, I am not upset that I sold my MITK shares. I redeployed the money into other companies’ shares, and am happy with my decision. But thanks for your words of advice regardless.
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Unfortunately a sale with a 50-50 chance of being wrong,
You can’t know the odds. On average they are not 50-50 since markets on average trend up.
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You can’t know the odds. On average they are not 50-50 since markets on average trend up.
That is assuming that everyone does as well as the averages. And we all know that most don’t match the averages and that’s probably the reason that Warren Buffett suggests that people should invest in market index funds to match the markets over time and only lose the fees.
b&w
Still holding. I also couldn’t find any news for the spike.
Scott
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