Look-I have been in the market many many years and I have read the same explanations as yours many times with stocks of this nature.
Sometimes thinking like yours is correct and stock goes up, and just as often if not more the fact that others are buying at the "bargain" levels you cite means nothing, and stock goes a lot lower if not out of business all together.
By all standards, stocks of this nature and trading at this level are considered speculative;if the company and prospects were solid, the price would be a lot higher than it is.
That being said, I am holding on and have been adding at lower levels, because I am still somewhat positive.
On the other hand, to think that this is a "can't miss" company is just plain naive and wishful thinking.
ps Prior to the internet bubble burst, various stock forums were filled with "rational" explanations as to why a particular stock was undervalued;you know the rest of the story.
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