Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please consult with your professional investment advisors prior to acting on any information on this website.
I always enjoy getting letters and comments from readers! Checking my mailbox, I found this:
just wanted to email you to say i have some stock in pmti aswell, and just curious to know if you think the stock will split and if so what should i be looking for?
Well Rick, first of all, I am glad that you own some PMTI, which is Palomar Medical Technolgies.
On February 10, 2005, PMTI reported 4th quarter 2004 results. Fourth quarter revenues jumped 63% to $16.4 million from $10.1 million the prior year. Net income came in at $5.4 million or $.29/diluted share, up from $1.0 million or $.06/diluted share the prior year. These were great results and the stock has been strong since then.
Looking at a recent "Point & Figure" chart from Stockcharts.com:
You can see how strong this stock has been performing! Looks like it broke down a little back in June 2004, when it dropped from $21 to $11.50. However, the stock has been strong since that time, staying above its support line.
When do I think it will split? I really don't know. It doesn't really affect my actions on a stock. I just wait until it hits percentage gain points and sell portions of my holdings.....so I don't really know WHEN it will split, or if it will.
What should you be looking for? That is certainly up to you. As for me, I sell portions at gains and then raise the downside stop each time...that is raise the level at which I would sell the remaining position on a retrenchment of the stock.
I frankly don't think I have answered your question, so if you have additional comments, please post them here or email me at firstname.lastname@example.org.