Will relisting mean reward for Comverse?
Written by: Aaron Katsman | June 26, 2007
By Aaron Katsman
www.IsraelNewsletter.com
With today’s news that Marvell Technology has received a stay from the Nasdaq’s board, and will retain its listing at least until the July hearing, and the settlements that we have started seeing in the option backdating scandal, the question on many Israeli investors’ minds is when will we get some information on Comverse (CMVT.pk). I want to be clear that I don’t think anyone really knows, but many local fund managers and people close to the company believe a resolution is imminent, and that could very well lead to a potential relisting on the Nasdaq.
As I have mentioned recently, I think this will spell reward for investors as we will start to unlock the full value of the company.
The stock has fallen hard, about 15% over the last few weeks, but as the stock has neared $20, we have seen a nice bounce, as intelligent investors sense a good deal is on the horizon.
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Disclosure: Author’s fund is long CMVT.pk and MRVL as of 6/26/07. He does not hold positions in the other companies listed.
Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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