Rakon is a very interesting and complicated business with an even more complicated security resting on top of it. It seems to me that over the past few years Rakon has focused on building a stable global platform rather than on delivering maximum earnings to shareholders. While they focused on building this kind of global currency hedge, their shareholders, who understandably couldn't understand a 3 year wait for a turnaround, systematically abandoned them.
This shareholder abandonment removed 90% of shareholder value over the past 5 years and became a self-fulfilling prophesy of continuing declines as very dissatisfied shareholders fed on each other's negative emotions in posts on this website and others. This is to be expected and it is part of the emotional market cycle in all markets throughout the world.
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One of the strongest criticisms has been that of nepotism and incompetence within the Robinson family and that family's over-representation on Rakon's board of directors. To answer this accusation, the directors have brought two new independent directors onto the board this year. In addition they have noted the fact that those family members own 23% of the company and have a very strong desire to see improvement in the share price. The result of this announcement was the September spike in share price and the beginning of an upward trend in RAK.
It will be obvious from a look at the one year or 5 year chart that Rakon has formed a solid base at 46cps over the past month. From the annual reports it can be seen that the company has built up the kind of reputation for quality and innovation that will allow it to evolve and supply advanced communication devices well into the future. Right now Rakon has come off it's darkest days and is stable at a bargain basement price which will easily reward future long-term minded shareholders with a 500% return on investment as it returns to a price of $2/share over the next two years.
Selling RAK at this price is daft, and yet there are still willing sellers. RAK at 46cps is the opportunity of a lifetime.
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