So, Slow, you are the dirty dog that...
dropped enfn from .89 to .70! Yes, the spread is widening...for whatever good that does the shareholders. I bought 10K for an average of .74 (ouch). Today I placed 2700 for sale at .99...to see if someone might bite. No biters. (By the by, if you ever see 2700 on the ask, it is probably me testing the waters.)
I spoke to ENFN Investor Relations Officer Krista Sweat. She is not too swift. She could not give me any financial information (at least not off the top of her head). She did not even know the size of the float! Anyway, she sent me a financial packet...which was totally worthless...just cover sheets from their SEC filings.
Their web site is a classic 'mackeral in the moonlight'. Looks great at first glance...but stinks upon closer examination. Pretends to offer info for investors...but only gives superficial BS. (I loved the President's letter wherein he whines about his stock being undervalued.)
I think the biggest problem with ENFN is that the management doesn't know squat about promoting the company. Their PR is virtually nonexistent. I think management believes that they built a better mousetrap and now the world should beat a path to its door. Ha, ha.
Also, management is missing a golden opportunity to juice its stock price. What with interest rates so low, mortgage financing and refinancing has been running at an all time high, right? So, now is the time that the stock should shine & run. But, the stock remains dead money since the investing public does not know about ENFN.
Unfortunately, enfn's window of opportunity is closing. Have you know noticed the direction of 10 year Treasuries? The rates are rising...which appears to be the new trend. That affects mortgage rates. In other words, mortgage rates have probably hit their low...and it is upward going forward...and if that is correct, then mortgage financing has hit its peak and should slowly but steadily decline from here. AND if that should happen, enfn will not be very attractive. Look at eeln's chart as an example of the 'handwriting on the wall' for enfn's industry. (Want to buy my enfn 10K for 70 cents per share?)
As far as the numbers go, well, that goes as far as the AVAILABLE INFO...which is sketchy at best. It seems that enfn was starting do quite well last year, inspiring management to seek an AMEX listing. However, enfn decided to try a risky strategy in order to grab mkt share...which is not charging mortgage brokers a fee. That socked earnings. Also, the company claims extraordinary expenses associated with expanding their sales force and mkting activities. That's fine so long as it pays off, which remains to be seen...assuming enfn bothers to reveal anything to the public.
I am not saying that enfn does not have potential. As you know, cheap stocks like enfn are blazing hot at the moment. There is no reason why enfn could not become the next big 'pump & dump' 1-week wonder. No reason except for the fact that nobody is promoting this unknown jewel.
If I wasn't so busy shorting the s*h*i*t out of glamour trash, like qlgc, adtn, etc, I might have the time to tout enfn and thereby try to jack its price up. But even so, time, at least in the short-term, may have run out on enfn. (If the Naz corrects like it should from now to October, the small stock craze is going to take a big breather...and then if mortgage rates rise and cool off refinancing, enfn will truly be dead money for awhile...if not for a long while.)
If somebody doesn't start hustling this stock soon, you may regret adding to your position.
Well, opinions are like 'a-holes', everybody has one. So, take my comments for what they are worth. As for me, if I can not find some time to 'manage' my enfn position, I will dump it for a small loss. Again, I think the key to profits here is to get this company known...but management does not appear to be up to that task.
Good luck,
Ace
