sorry sorry sorry I could not resist: I bought 125 (ASIA) AsiaInfo shares… What is it? February 6, 2007Posted by deminvest in ASIA Asiainfo, growth stock, Internet stocks, investment, nasdaq, Single stocks, stock I own, stocks.
I don’t really know.
Apparently ASIA is a Chinese software house which has 800 workers and develops software mainly for Telecommunication companies. I was not supposed to buy any more stock this month. I allow myself only to one buy per month but I do often lack in self discipline (like many other simpletons like me do).
I think I bought it for two reasons:
1) I thought it is a bargain: ASIA has market cap 343.82M and cash 150.46M, meaning that half of its price is made by cash it owns.
2) ASIA is growing fast: Qtrly Revenue Growth (yoy): 62.00%
3) ASIA recently switched from losses to gains, which is good🙂
4) It is an old glory. A stock that in the good old times of the first bubble was around $ 100 can be bought around $8 now. A bargain (… I’m joking)
I should have been more cautious because:
1) My knowledge of this company’s business is very limited
2) Even though ASIAINFO HLDGS INC (NasdaqGM:ASIA) went from losses to earning on last quarter, it does still have a P/E = 60, which is not very cheap.
Let’s hope this company will continue growing its revenue and will at the same time boost profitability, making me and a few other proletarian investors, rich🙂