In my opinion, it appears IDCC has yet again become a short target. Shorts like stocks that can easily be forced down. The lack of price support is frustrating. Since we do not have major buying going on selling continues to take us to new lows. The NASDAQ continues it downward spiral. We currently are going down 3x faster than the NASDAQ (2% vs 6%).
Hard to maintain a positive attitude when all we see is red. I am still strongly in favor of increasing spending at this time. We need to lobby major funds to take positions. Not only do we need bodies to continue to aggressively pursue license talks (PALM, NT, NOVATEL), but we need key executives or new executives to convince major institutions that IDCC is a must hold stock for 2004 and 2005.
Maybe we add seasoned wall street veterans who have hooks into these technology funds. The analyst base is strong and no one has jumped ship. The drop from $20 to $15.80 is unwarrented. Company now can be bought out for $870 million and they can use the $100 million in cash so its current value is $770 million.
Bottomline, I think it would help the situation if we hired one or two key executives that can help Howard and Rip formulate the message so that the institutions decide to take substantial positions.
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