Doyle Brunson attempting to buy WPT

[arod15]

Didnt think DOyal had the much money. Good for him. I own the WPT unfortunaly its only a cuple hundred shares......

[Stock Whiz]

still a great time to buy - should be priced at $35 - will be by the end of today or monday morning

[JoshuaMayes]

[ QUOTE ]

It means WPTE is confident that the stock price will be worth more than that. If they are competent businessmen, then it's a good sign for investors, and the price will eventually reach that level anyway.


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Incumbent management always spouts that nonsense in the face of a hostile takeover bid. After all, if the bid succeeds, they lose their jobs.

[sekrah]

They lose there jobs, but I'm sure they have quite a fistful of stock options, severance packages.

[cwsiggy]

This has to be a sign of the poker peak. Buy high?? sell higher?? I don't think so. Interesting if Mr. Cramer mentions it tonight on his show.

[canis582]

http://finance.yahoo.com/q/bc?s=WPTE&t=5d

Doyle has backers, its not all his money. He is probobly not even putting that much into it.

http://en.wikipedia.org/wiki/Private_equity

[cwsiggy]

Of course he has backers. I wouldn't be surprised if Doyle is putting very little of his own $ in. Probably just getting options and a exec title.

[RiverTheNuts]

He's probably just throwing this out there so his friends that are into WPTE can make a nice profit and sell before the deal "falls through for unexplained reasons"

[celiboy]

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He's probably just throwing this out there so his friends that are into WPTE can make a nice profit and sell before the deal "falls through for unexplained reasons"

[/ QUOTE ]

Exactly....created a nice spike in share price. So what exactly does the WPT represent....I generally stay away from stocks that do not have anything tangible behind them. I don't understand how the market cap of this stock is around $300 million. It hosts a bunch of WPT events and started an online site that can not have American players on it.

[Jordan Olsommer]

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So what exactly does the WPT represent....I generally stay away from stocks that do not have anything tangible behind them.

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That was my first thought too - do they have any patents or exclusive rights to anything (aside from their own footage, of course)? If not, then this company is a very precarious holding, at best. No patents, no exclusive rights, no innovative techniques really (at least nothing that isn't trivial for a competitor to accomplish) - it seems to me that all the value their stock has is based solely on the fact that theyre atop the heap for the moment, and that doesn't seem like a very good reason for investing in a company (Iomega was atop the heap for a moment once, too).