Hi fellow fools - has anyone been staying in touch with PN? Wondering if the CEO didn’t want to sell out to Ebix so he could use the company as his personal shell game.
Anyone taking any nibbles at it? Today’s action was interesting in that it rebounded about 10% in the last hour or so.
Sox Nation
has anyone been staying in touch with PN?
Sox Nation,
I haven’t touched it since it became apparent the CEO was not very clean in his personal business and no longer trusted the goals of the company. With the strong stock price manipulation we saw when I first brought it to the board, I have no doubt it will happen again to benefit insiders. Sometimes the FTC seems like the biggest joke in town.
IMHO - Given your suspicion that the CEO might be using the company as his personal shell game is reason enough to keep looking elsewhere to me. Remember that the trend is your friend. It’s only back to where it was 4 days ago.
Agreed - down another 20% today. Getting tempting to take a flier on it.
PN missed estimates by .18 this am. Revenues down 15.4% missing estimates by 13.27M.
Glad I’m long gone.
Rob
Correct Rob. They were supposed to have 13 cents EPS, instead it was -5 cents. Revenue was supposed to be 65M and they mustered 51.5, which was down YoY from 61M. Red flags in the results alone, to go atop a pile of red flags from the last, oh, year or so.
I have no idea what is wrong with this company, but neither the market’s actions, nor the behavior of management, nor the results they’ve achieved make one bit of sense. But my gut says: do not throw any hard earned money onto this dumpster fire.
Bear
I did something with this stock that is a bit unusual for me to do: many months ago, when it’s price seemed to be stuck within a particular range (I don’t recall the prices off hand), I bought at the low end and sold at the high end. And then I did it again. And again. I didn’t get rich, but I made a tidy little profit each time. Then I decided to quit while I was ahead, and never bought it again.