AceTrader: Update #3: UTK

AceTrader

This site was designed to communicate with friends who share similar interest. The interest in the "free market". Stocks, over the long term, provide the best return on your money. More than cash, bonds and even real estate. Understand that investing is a learning process. We will learn from our mistakes and move on. This is a journey. Enjoy the ride!

About Me

Name: Jaewoo

Location: Bayside, New York, United States

My love for the market began in 1987 when I first opened a brokerage account with Fidelity Investments. You know what happened back in 87'. "Black Monday", the market crashed. My initial $ went down fast. Thus began my thirst for the challenge to make it in the market. Although I have science background, my Bachelors degree is in Economics from Washington University (great school). I also have earned an MBA in Finance from Fordham University, New York. Although I am registered as an "investment advisor" with the NASD, any information in this blogger is not intended for any business use.

Thursday, October 26, 2006

Update #3: UTK

I just spoke with the people at Utek.
My only wish was for the company to issue an official answer to the alleged claims. I think the management was caught off-guard as well.
Please visit the company website. (see below)
1. From main page, click "investors relations"
2. On the right side, click "Fact Sheet"
3. Read them carefully.

There are just too many legit people working here for me to think that these are crooks. You investigate it for yourself.

Utek Corp.
2109 Palm AvenueTampa, FL 33605United States - Map
Phone: 813-754-4330Fax: 813-754-2383
Web Site: http://www.utekcorp.com

3 Comments:

Anonymous said...: I hate to say this. I really do. But until there is an official statement, the lack of news from the company states one and only one thing, fraud. At the time of this writing, they clearly have not addressed any of the allegations against them and that is one huge red flag considering they have had ample time to come out with a statement.

I suggest selling the stock until they do come up with a statement to prevent unecessary losses.; 1:13 AM
Anonymous said...: @Jaewoo,

I lost a chunk of money with UTK today. My avg cost was $19.50. But despite this loss - my trust and confidence in your '6th sense' like Siyu mentioned has increased much :) And i love how you handled the situation and provided updates on UTK through the day.

Just wanted to drop a quick thank you for that.

-Jo; 3:03 AM
Siyu LI said...: I wasn't surprised that some of their partners has questionable background, or has a questionable business.

I don't think that shall be the reason to sell the stock, here is why.

By the nature of their business model, they mainly deal with micro-size company - Pick Sheet, Over the counter, or start-up.

Very few investors buy those stocks in anticipation of 10% - 15% annual returns - it is either 100% loss, or huge gains. This indeed, makes UTK's model more attractive - it diversifies the portfolio by making deals with a lots of those companies.

So, if you believe in their business model, the real question is do they have a competent management team with good judgement, execute deals in good faith, each and every time?

Well, that's your call...; 1:10 AM