Quote:
Originally Posted by bhawkdown
You bashed this stock for several years ITT and now are on the bandwagon. The entire thesis for owning it was that they had enough runway to try and produce another major hit.
No. The entire thesis for owning it initially was online real money poker, which I ripped mercilessly and said would never come to anything, for which I got mocked by the bulls before being proven 100% right. It was close to a lock that real money online poker would come to nothing. People didn't listen and lost a fortune, and an enormous fortune compared to say investing in the index or EA, which went up a lot during that time.
After real money online poker was dead, there was a second thesis that they'd turn it around soon, and the stock ran up to $4.50 with the heated Nasdaq run up. I said that the stock had run up on air and was going to come back down further. I was right.
When all of the bulls had sold out and there was despair, I became a bull (at $2.59), due to the restructuring, and the possibility of credible looking new upcoming hits out of NaturalMotion (the first in a long time). I put a ~9 month time frame on these hits coming to fruition and affecting the stock, expecting them out soon. The games didn't come out - they took forever to get done - and now that one of them has, the stock is at $2.80.
I claim no victory for that - the thesis time frame was wrong and while they've done well, a hit is as yet unproven - but I did make a post to mock domer (in a friendly way - guy is mostly solid) picking the very bottom which has since return 50% in profit had you bought the day of his post, mostly because of the success of CSR 2.
My original thesis time frame is done and I don't follow the stock any more. I'd sell here at $2.83 for 10% profit, but only because I haven't spent a few hours looking deeply at what they're doing. That's just my personal close point, not a recommendation.