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I can understand guys like you who are just trading this thing short-term, but I know there are some people out there who think this is actually a good long-term investment at this price. It will take years for JAMN to grow into this valuation, if it ever does.
BTW I wouldn't dare short this stock until it hits at least $10. There's no telling how high a stock can go when the buyers and sellers are not concerned with its fundamentals.
I am just so curious to see how this all plays out. I haven't come across enough hard evidence to justify a short, but going long is clearly speculative. My biggest fear is that the Chinese economy will come crashing down, and the true story about NEWN will never be known!
How have your posts not been deleted yet? iHub doesn't allow any talk but bullish talk!
I suppose our differing time horizons are leading you and I to define "slow and steady" differently.
Go look up the latest company to be delisted from a major exchange, and you'll see a nice long list of big institutions. Bottom line, it's not just as easy as looking at what the "smart money" is buying and saying, "they can't be wrong."
This has been a nice slow, steady gainer
LOL. Probably the funniest thing I've read on ihub.
Just FYI, WFG and Fidelity own SWSH as part of a fund that buys a ton of stock with minimal due diligence. I'm not saying this stock isn't worth something, but I wouldn't count on "big names" as re-assurance.
This does not seem like a terribly important issue, though it must be material since they are going to re-state. If you are already counting the options in your valuation (ie inflating the share count), then this really shouldn't affect how you view the company.
Wow, I said the same thing just a few days ago and all of my posts have been deleted... There is no sense in trying to "warn" people who would buy into a stock like this, they don't buy based on logic or intelligence. I just want it to go to $5 so that I can short it (my broker doesn't allow shorting for stocks under $5...). So, please, no more bears on this board!
I totally agree, financials don't mean anything! This company is going to the moon! So glad I came across this stock, it's going to end up like SBUXXXXX
I can tell you where Mr. Marley did put his money:
"On March 31, 2010 the Company entered into an asset purchase and sale agreement (the “Asset Agreement”) and Trade Mark License Agreement (the “License Agreement”) with Marley Coffee LLC (“MCL”), a private limited liability company of which the two directors of the Company have a combined controlling interest.
MCL owns “Marley Coffee” and related trademarks (the “Trademarks”). In accordance with the License Agreement, MCL grants to the Company an exclusive, transferable, sub-licensable, worldwide license to use the Trademarks for the licensed products."
^pg 7 of most recent 10-k.
Lots of companies do sale/leasebacks, but I don't like this one. Decide for yourself.
While I personally don't find it safe to invest in NEWN, I can perhaps see why someone might take a chance on it. However, how long will you wait for the form 4 to come out before deciding that management has lied outright? A lot of the evidence against NEWN isn't exactly concrete, it just makes the company start to smell a bit. However, if they say they're going to buy stock and they don't, that's a pretty clear cut lie.
I know you said you want to cover your ears and close your eyes from anything negative, but why on earth would they need a loan with all the cash they have listed on the B/S? And guaranteed by Jack Yu! Yea, with all the money he's making from this scam!
Any bulls willing to sell me some Dec 2012 puts?
I just don't know what management thought they were going to accomplish by announcing that they would personally buy shares, but never actually buy them! If they wanted to unload their stakes, they should have announced a real buyback. Whether this company ends up being a fraud or not, management's actions are simply bewildering.
"Yet somehow the stock price is holding up.. do you really think it is that many misguided retail investors buying, now, of all times?"
Name who you consider "smart money," and I'll show you ten instances in which the smart money turned out to be retarded.
"Unfortunately Kim Fai probably has been part of the NEWN umbrella for years and they just bought themselves for 24M."
^Posted by weeble on yahoo. This is the answer. It may take another acquisition for those still buying at $4 to figure this out...
Still waiting on that form 4 LOL
These guys should just announce a buyback, the shares jump, and then dump their stakes! Sometimes these people just don't think it through.
LOL I don't know who actually comes to message boards for actual stock discussion. There are only bulls here so I post anything bullish that comes to mind. I have no idea why anyone would buy this speculative China stock when there are plenty of legit businesses in the U.S. that aren't getting any love...
All I can say is buy more NEWN!
Or perhaps they just wanted to buy shares for themselves at a lower price, and they knew this shelf filing would crash the stock? It happens from time to time in the U.S. (via other methods, not necessarily S-3s)
I would have preferred a little more of an explanation than "personal reasons" but I always got the impression that he wasn't going to be doing much with NEWN anyway.
The money I'm making on the way up will make up for the money I had to spend for all that booze on the way down.
It is so nice to have management that will release meaningful info instead of ranting against shorts like the CCME CEO. NEWN has responded in a measured and professional manner.
sounds like a short trying to recoup his retirement savings after this recent run up.
wow this is a really random 30% run-up. I mean, it's not like we didn't know that they're going to be releasing earnings sometime soon.
haha i forgot they're allowed to discriminate based on age, gender, and marital status over there. America is so rigid!
They have released the 10-k on April 15 the past two years. My guess is that it'll be the same this year unless Kim Fai causes a delay.
Any chance you could stop by headquarters and get a peak at operations? It would be nice to put this China fraud thing to rest knowing NEWN is producing like crazy.
share repurchase?
The only way to ride this roller coaster is with a bottle of scotch
any time this stock goes under $6, I'm a buyer. Even the shorts can't justify not covering at prices that low.
"Personally, I think it would be wiser for Berkowitz to buy every available share on the open market first (within legal limits)"
Besides the resolution to not acquire any more than 30% of the company, the board also introduced a poison pill that essentially makes acquiring more shares a terrible mistake for Fairholme. They'll have to replace the current board before anything close to a takeover happens.
This seems exactly like the kind of company that would garner a lot of attention from these boards... highly speculative with a huge potential payoff. It's trading too high right now, but if it falls back down to the $5 range, I'll have to take a closer look.
Is anyone else following this company? Current financials can be found here: http://www.ptgamex.com/Paragon/Stockholders/Stockholders.htm
nevermind. edited
I'd like Muddy Waters to initiate research on NEWN; if they put a buy recommendation on, the stock will soar. If they find out it's a fraud, then we know it's a fraud...
The short research I've seen on small-cap China frauds has been pretty helpful as far as due diligence ideas for NEWN. I think it is wise to be skeptical and to employ the (affordable) research techniques that the shorts use, like contacting and researching suppliers/distributors, etc. just to make sure the financials are in the ballpark. I'm actually rather ashamed to be invested in NEWN without having looked behind the numbers, but I'm certainly looking now (and everyone who is invested should, too). If NEWN is revealed to be a pump-and-dump, I think we all deserve to lose our money...
I'm not sure why you'd let the market bully you into selling your shares. Even if the shorts beat the crap out of the stock price, they have not actually hurt the company in any way. Assuming you don't do something foolish like put next month's rent in NEWN, a further decline in the stock price is just another buying opportunity.
It's not like this is a no-risk company. There are plenty of reasons that it could all come crashing down, not the least of which is the real estate bubble that will have to deflate at some point. Traders/speculators get scared and back out all the time by the tiniest of things, investors buy the company and see the big picture. If you've never been on a roller coaster ride before, my advice is to just set a limit order to sell at $12 (or whatever you think is a conservative estimate of intrinsic value) and come back in a year to see what's happened.
I just glanced at the institutional roster on yahoo finance and noticed that CALPERS is now a shareholder... Given CALPERS' track record this probably means it's a terrible investment, but NEWN is certainly on the radar now.