I don't know that it's a matter of Bob not understanding the public markets. I think it's simply a matter of Bob not caring one bit about the share price or about sentiment among the shareholders.
I don't state this with a sense of negativity or frustration - just my perception of where things stand. It seems to me that he feels he's got a pulse on what's best for the company in the long-term and he likely believes he's on the path to the best long-term value. Time will tell if he's right or not.
This is why in my last post I stated that I now think about Virtra as if it was a private equity investment - I've got an amount of money invested that I'm comfortable with in a black box environment and am willing to completely trust in Bob's long-term vision.
That amount is significantly less than I was willing to invest when I felt that I had more visibility into what was going on and a belief that Bob was interested in engaging shareholders.
I understand the frustration expressed by many here. There have been multiple statements from Virtra about how management wants to engage shareholders, but that hasn't been the case. It might be nice if Bob came out with a statement saying that from now on, there will be an annual meeting, regular earnings reports, occasional press releases and nothing else to shareholders. But that's not going to happen. It's up to shareholders to ignore what's being said and make decisions based on actions. Easier said than done - hence the frustration.
Bob may end up looking like a genius and Virtra may end up being a phenomenal investment in the long run. But there's likely a lot more frustration between now and then for anyone who expects Virtra's actions to be different in the future from what they've been in the recent past.
Good luck.
-Pat
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