More On Our Stock Drop
I have had a flurry of emails about my previous post about the drop of our stock price last week after publishing our quarterly results.
Lots of questions from Fund managers and individual stockholders. I try to field all inquiries, particularly those from stockholders. I have been amazed how many individuals have been in our stock and the stock of my previous company - Mecklermedia.
There was even a post by Barron's editor Eric Savitz about my note. I had the pleasure of having lunch with Eric about 5 years ago in Mountainside, California near the Barron's office. Eric had a taste of the rise and fall of an Internet rocket magazine called The Industry Standard. Eric saw it all as one of the top editors.
But back to the emails. The big question is value and revenue. I cannot guarantee revenue or any results, but feel confident we are doing better than we did in the last quarter. As to value, I know that our image assets, music assets and related content assets are worth a heck of a lot more than our present market capitalization. I also know that our online media division should be worth at least $2.00 a share or more. Now tack on about $35 million of EBITDA (before stock compensation). This all means (to me at least) that at our present price we are cheap. However for those out there that think we are going to zero sales, then I guess our present price is exorbitant.
One of my favorite endings for posts is "we shall see." Indeed!
Jupitermedia CEO Alan Meckler
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