"You have to question that," says Saint Louis University's Fisher. "The promise of a long-term bonanza can cover a lot of short-term shenanigans."
Orda the fact is that this Fisher guy isn't a wavoid. The Sprague apologist story does not play well with the rest of the world.
especially in the post-Sarbannes-Oxley-Enron-World Com-Martha world.
Years of Sprague-apalooza has a price that greatly exceeds what is past & this piece is just a small sampling. can only sweep so much under the rug before the rug gets a little lumpy. the only way to extricate itself from that is for Wave to turn the lumpy rug into Aladdin's Carpet.
if they execute, the checkered history becomes a dot in the rear view mirror. if they don't, the rest of the world will quoteTrance & saying "the fish rots from the head." i know 'voids don't like that sorta message being bantered about but that's part of the reality that IS priced in @ $3.
Wave's credibility has to be completely rebuilt from the ground up & there is only one way to do it @ this time:
deployment.
SPIN
PS Gilder won't even talk about paradigm-shift prospects anymore b/c of class action risk (one that exists now b/c of $5 bagholders that bought shares from Feeney). Alger talks about 'em like Wave is a crazy ex-girlfriend (b/c SKS didn't back off the rev forecast 3 yrs ago & burned GROW).
PPS good corporate governance sh/could be like an asset on the balance sheet. here it's a long-term high interest debt of sorts. hyperbole, embellishment, gorging on s/h's tab, founders' shares, piss-poor disclosure & all the other c_rap created a massive, massive credibility gap. so when a short suggests a trading halt or BK or whatever is imminent, it prolly scares the uninformed.
PPPS Patterson's piece is snide & derisive, but seems kinda accurate on a quick first read ('cept the 45M "offering" ref). He shoulda waited on running it & attended the ASM too.
in the face of all that, i'm long... but, hey i could be wrong...
edit: "DAVID STONE ... owns a company that makes digital-camera cleaning products, [and is a] 53-year-old [who lives in] Cape Cod, Mass. "
how the series H_ell do i know?!?
edit: "At the very least, timing of release is suspect!" - Sam, so is the RSA PR if we're gonna be candid. mid-day news is exciting but also might be employed to mess w/the heads of the day-trade group & support the price (esp. going into ASM). tit-fer-tat on that.
edit: My guess is that he is probably a short who is looking to close and go long. Can you all say manipulation?
uhhhhhhhhhhh.
nevermind.
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