I am kicking myself that I did not average down in the bottoms, mainly as I don't currently have a holding that would qualify as a marketable parcel. Had I bought $1K amount below 22c, I would now be about even and could have put orders in at break-even to get out.
It is clear that the SP got way out of hand and it was not supportable from the financial results. That said the tech is very good (I have seen it demoed) and I do believe in the product having a serious opportunity in the market however I also believe over time that will start to close as others attempt to mimic GSW.
As it is a small part of my portfolio (but a significant drag in unrealised % loss) I am happy to leave it in the bottom of the drawer. The stepping in of Charles to start accumulating is very interesting and I believe there is some significant change on the horizon. Unlike some, I do not believe that it will be taking GSW private, more along the lines of getting board representation, driving the product into new markets and possibly looking for small bolt-on acquisitions to make the product more attractive to those wishing to subscribe.
GSW Price at posting:
52.5¢ Sentiment: None Disclosure: Held
