Olympus oversold?

[Slug]

OCPNY Anyone think that it's oversold due to the accounting scandal. It seems to be a relatively strong company except for their little issue with hiding huge losses for the past decade.

Full disclosure: I really want someone to tell me this is a bad idea so I don't nibble on something dumb.

[bjl584]

You might have already missed the bounce back on this one. $5.50 to currently over $12. The news reports look favorable, so there could be more upside, but I don't know if I would bite on it.

[kv968]

Full disclosure: I really want someone to tell me this is a bad idea so I don't nibble on something dumb.

If you consider a bet on red or black on a roulette wheel a bad idea then I'd classify this as one since that's basically what it will be. I know it'd be nice to get in real low and have the accounting problem be nothing and the stock skyrocket, but I have a feeling it isn't going to be that easy.

Not only do they have that but they barely made the deadline to file a revised earning report which would would have resulted in them being delisted. And their financials haven't been looking that great the past few years book cooking or not.

I'd say do some options on if it anything but I don't think there are any available. Good luck if you decide to go with it.

[jpg7n16]

Are you really going to invest in ticker Occupy Wall Street??


But about the co:

From: Olympus is reforming governance, president says - Yahoo! Finance

...The deception at Olympus, dating back to the 1990s, to hide 117.7 billion yen ($1.5 billion) in investment losses came to light when former President and Chief Executive Michael Woodford blew the whistle, questioning expensive acquisitions and exorbitant fees for financial advice...

The company reported in its corrected documentation a loss of 32.3 billion yen ($414 million) for the first half of the fiscal year, through September, a reversal from a 3.8 billion yen profit the same period a year earlier.

Not my type of company. I don't just mean the accounting scandal - they'll fix that. But losing $414 million in the 1st 2 quarters, or $1.54/share.

It doesn't fit my personal investing style. But if you're taking a gamble that they'll turn the co. around since they're fixing the accounting issue anyways - then good luck!

[Slug]

Are you really going to invest in ticker Occupy Wall Street??

I thought that was funny too. I haven't bought any. Probably won't, but I thought I'd put the idea out there anyway.