We all know that nanotechnology is touted as the great future technology. That's the reason small investors are enthusiastic about Obducat. But I would like to put a question to you: If the technique that Obducat is touting is so exciting as so many seem to believe, then why hasn't any of the big technology companies bought the company? The market value of the company in relation to what the big technology companies spend on research and development was at the time (and still is by the way) when it was introduced to the big players negligible. There is obviously something funny here. More so by the fact that the main holders of stock in the company have sold out heavily during recent months, at a price level of about 0,12 euro! And why did orders for NIL stalled so conspicously during the second half of 2003? Could it be that the universities that so far have been almost the only buyers of the equipment figured out that the technique had serious shortcomings?
My opinion is that Obducat is a classical example of a bubble at company level. Its share price has been driven sky-high by small investors who really know nothing about the technique and the difficulties involved in making it successful, nor have a grasp of the bigger picture of what is going on in the field of nanotechology, where things now happen very fast, not least in the laboratories and research departments of the big technology companies, the latter having resources which Obducat only can dream about. A pertinent question here is why Obducat has had so much difficulties finding venture capital from companies that are almost desperately trying to find promising companies involved in nanotechnology. Small investors have been the backbone when it comes to provide capital for the company. Big investors have stayed out. Even the main owners of stock in Obducat have at least on one occasion refused to be a part of rescuing the company when capital was needed.
Much more can be said in these respects. But I will stop here. In order not to make investors to depressed. But I will be back. You will probably stumble upon my writings on Sunday afternoons which is the part of the week when I have time on my hand. And then we will take a look at small companies on the swedish stock market which are more interesting than Obducat will ever be, and have at least the same potential for share price increases. |
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