Saturday, June 12, 2010

More on Mitel Stock and IPO's

I love that even on a stock market up day my shitty a$$ Mitel stock drops. Down to $ 9.60 and dropping a whopping 32% since it's IPO less than 6 weeks ago. This article says it'll be bullish in about 12 months if their first Quarter public financials show profit. Mitel hasn't shown a profit for years on its quarterlies, why should this quarter be any different? The article continues to state that a long position will be beneficial to the investor with the stock price estimate at approximately $14 by year end. That's what the stock IPO's at so woohoo! I could break even after 8 months if I'm lucky. On the flip side, why sell it, I have 85% less shares that I had before they went public due to their reverse stock split.

So that's my little rant. It's highly disappointing to be sure. People talk about the hey day of the dot com boom and how so many people got rich on stock options. I think that number is probably significantly less than we like to believe.

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