So. WMC announces a $10 million net profit for the year and the attention that this brings to the company is simply to allow largish shareholders (40,000- 80,000 shares) to come out of the woodwork and offer to sell their shares for 20 cents. They are happy to forgo an upcoming dividend and are dying to sell out of an industrial stock that is on a P/E of 3. The profit and dividend announcement encouraged more sellers to appear than buyers!
Something is sadly awry here.
Some PR by this company is badly needed.
Either
To explain to potential investors the great things that the company has got going for it and the huge value it represents at the current SP,
or
To explain to us current holders why despite its great results the company cannot get any traction, why it seems to continually be on the nose and why it might be in our best interests (as it seems to be for some others) to sell out as well.
I don't know about anybody else, but I for one am extremely disappointed with the status quo.
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