Hi tkc,
If the business works out, I think it's a buy and hold.
But the absence of strong revenue progress alongside the hiring binge, the absence of an explanation for the lack of progress on major sales and the absence of buying by board and management are all red flags.
The ranks of poor quality excuses only serve to heighten the issue.
The weakness of the stock in this context and in the face of cash needs suggest there's little public interest in Wave's opportunity. I think Wave has blown the confidence of many of its investors once again.
The DoD pathway leads to potential glory, but they must actually step along it to succeed. I think the price tells you that few investors believe it will happen within a reasonable time-frame. Incumbent politics has always seemed to explain the delays in the past. Perhaps it will do so again. I don't know.
One thing I do know. The availability of the technology has never fully explained the marketplace. The use of the phrase "xxx gets it" is only used by those who don't.
Like I said previously, we end up dealing with uncertainty and complexity. And in the end, conversations without any real meat end up tasting bland. Round and round.
If the trust issues were addressed or the board and management invested or progress was visible, I'd think perhaps I might stick my neck out again. But why bother if the company doesn't itself perform.
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