The stock doesn't trade in a straight line up, and it's all gloom and doom?
I think most everyone here is still holding and still has incredibly high expectations for the company based upon what I have read. I don't sense doom and gloom, just a sense of frustration over what is perceived to be a very considerable missed opportunity to make that major jump in credibility and notoriety that most of us thought was coming with the buyback and a dividend. That burning desire "to strike while the iron is hot" that was not fulfilled.
The Chinese small cap space has been littered with fraud and fraud accusations, and many have tried to lump CCME in that category. This was a big chance to completely and unequivocally shred that stigma and garner the proper level of distinction that this company deserves. A chance to trade in the big leagues sooner rather than later. That time is coming for sure, but the company is ready now - so am I.
The current churning at this lower floor, though healthy, is still a reminder each day that we would probably have a floor in the low $20's with plenty of room to grow if that divi had come and if more of the float was locked up with the buyback. Now there is a doubt about whether or not the divi will come and that is a bit frustrating, but is outweighed by the fact that the company does still have $170 (well now probably about $180) million in the bank ready to strike. That's still a very reassuring statistic. Bring on 2011.
