IAMSAM, that is an entirely rational approach, indeed, most of the "bashers" have said in different terms that is exactly what they are doing. They are outside this equity, and feel they will have plenty of time to jump in if/when Wave "proves" itself.
Some of us have recklessly confusing tax situations and so on,
some of us don't look at the equity every day,
some of us, for emotional reasons, have parked WAVX "outside" the box to just make lunch taste better.
But no doubt, the SPINs and the HhHs or the one who are/were right, they dumped all in double digits, and while they variable TOS some mud, any fool could tell you the SIDELINES was the right place to be for the last couple of years. It does *NOT* take them out of the running to fully capitalize on any real move borne out by proven business.