lemmy/Caution
There may be unusual risk here, but there is also unusual opportunity. During the bubble days, investors discounted risk and overvalued risky stocks. I believe that current conditions and the aftereffect of the burst bubble have led to an opposite result. Investors overestimate risk and undervalue risky stocks. Wave is a prime example of this phenomenon.
The more risk averse investor who still wants a better than average return would probably wait at least until the key element in Wave's revenue model is proven by the first large enterprise sales of upgraded software. However, the price to build a position is likely to be substantially greater after such sales are confirmed.
In the past Wave investors have often relied on hope and aspiration rather than logic, and that has operated to their detriment. I am among those who made this mistake. In recent years, I have tried to be far more objective in my appraisal of Wave's prospects, and there is now a compelling logical case for investing in Wave.
Of course, it is always a bit perilous to make investment decisions based on logic alone. There is a possibility that a key element is unknown or misunderstood. However, based on what we know, logic indicates that the software currently offered only by Wave is a critical element in the next upgrade cycle for enterprise and government networks.
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