show me the money

MEMS are sensors that do things like turning on the windscreen wipers when it rains or flipping a mobile phone’s screen when it’s turned sideways. One of these companies says it’s a market worth $14 billion that is growing at 13 per cent a year and will be worth over $22bn by 2018. You can see why investors are getting excited.

With any such stock, “show me the money!” is the thing to say. On this front, the answers we are getting indicate that revenues won’t be coming any time soon. More likely, before too long, investors will be asked to put their hands back in their pockets. Right now it’s as good a ride as any. That is, until it isn’t.