TheStreet.com put out an article on GigaMedia Limited (NASDAQ:GIGM) today, they are a holding company that develops and licenses gambling and gaming software/websites. The time to catch this stock would have late August but with shares still at $19 there could be some points to score before it tops out at $25. Something to consider while you watch your retail stocks get beat, here's the link - Small-Cap Spotlight: GigaMedia Worth the Gamble
Sure the stock could keep pushing past its 52-week high but with the $1 gain already made today, probably best to just keep it on your 'watch list'. Still, good reading and a creative company that's worth researching.
The company's primary long-term driver is the Everest Poker product, which analysts say is a top-five online gaming poker site in terms of traffic. Everest Poker is on track to almost triple its revenue in 2007, following up a 144% growth rate in 2006.
Analysts at Bear Stearns, which initiated coverage of GigaMedia less than two months ago, see Everest Poker's revenue growth stabilizing in the 20% to 30% range over the next three years, with 2008 revenue expected to hit $117 million. This relatively slower rate of growth could provide a catalyst if the company beats expectations over the next year.
Here's a link to their last conference call on Nov 14th: http://www.gigamedia.com.tw/conference.htm
The one the only - Steve Reeves.
Fellow Masters, my articles and stock recommendations are now available on WallStNewsletters.com. I look for undervalued securities and the cheaper the price the better. OTC stocks are my favorite hunting grounds and I never pull the trigger on a stock that costs more than $5 and is worth holding for at least 3 to 6 months. Please review my track record and my 31.4% average return YTD.
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