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Monday, March 01, 2010 3:22:28 PM
I can be pretty critical at bonehead management moves.
But, in this case, those who sold off simply b/c of the name change have it wrong IMO.
I understand the concern. Name changes with pennies freak people out. Name changes often accompany monkey business.
But in this case, it's a clear 1:1 swap and the name change is actually good news. It means Danny has a bigger vision of the company - something beyond just selling imported plastic junk from China.
The old Muscle Flex was never going to hit .30 a share selling the Buddy Tablet and the pedometer.
The company now has more potential than it did when it hit .049 last September.
Notice I do say 'potential'. This is a risky play, no doubt, if the show is a hit, this will hit pay dirt for those who got in around these prices.
For a trader like me, it's a dream stock - lots of updates from the company, plenty of bashers, plenty of pumpers.
The name chanage was not nefarious. It was with good intentions and it was a good business decision. When the stock is back in the .02s, does that mean the market was stupid? Well, I think it just means the name change spooked a lot of people.
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