Ocean Power Technologies Inc (OPTT)

[terry hallinan]

why was this stock at $40 - $50 bucks/share about 4 years ago... and now a buck and change?

Through flawed technology or incompetent management or both, OPTT's efforts to develop utility-scale wave power fields off-shore collapsed.

Bureaucratic intransigence beginning in Oregon played a significant role as may well have happened elsewhere. Rather oddly the arguably most innovative state in the nation has bureaucrats that are among the most stiff-necked on earth. It also drove Chevron with a budding interest in geothermal power out of Oregon and consequently the U.S.

Chevron found open arms in Asia and became a world leader in geothermal power until Chevron sold more recently its entire geothermal operations in order to deal with its troubled petroleum empire.

The autonomous wave robot was discussed for years but nothing much was done beyond collecting data from an isolated power generator in New Jersey offshore waters.

Hope the robot has better luck. I don't think there is anything wrong with the fundamental idea of wave power that has done well in isolated niches.

JMO.

Best, Terry