EXPU has been removed today from the Guru's buy and hold list. We were bullish on the stock until we discovered (from a subscriber) of a 2 million share disbursement for stock promotion. While we understand the need for promotion, we also view the share size as being well beyond expectations. 2 million shares, at today's close, is the equivalent of $320,000. That number is in far excess of what a company should pay for promotion.
Long term stock holders are getting the shaft under such an overly generous deal. It is one thing to pay for promotion, it is entirely another to vastly over pay at the expense of shareholders.
Today's price action tells the story better than I. A nice red wick down, in what I suspect will be just one of many more down days.
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2 comments:
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