Title: THE STOCKDOUBLER
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THE
CONTRARIAN - NEW BUY RECOMMENDATION
NATIONAL INSTITUTE COMPANIES OF AMERICA
Symbol: NICM
Listed: OTC Pink Sheets
Recent Price: .06
52 Week Range: .04 - .77
Shares Outstanding: 99 Million
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The NASDAQ just finished its worst 1st quarter ever, while OTC and pink
sheet stock activity dried up. The Contrarian waited for the dust to
settle, and now presents our first new idea of 2001: National Institute
Companies of America.
In order for a stock to move up, there must first be retail interest.
NICM was one of the Top 20 most active stocks on the entire pink sheet
market (out of 3000+) in March. Next, we look for a bargain price, and
NICM is down 90% from last year's peak. Finally, we look for a
fundamental reason to buy. In NICM's case, it is the recent
announcement to buy back up to 10% of their outstanding shares.
A buy back is exciting to the market for many reasons. It shows that
management believes that the stock is undervalued - in fact, it is
selling below book value. Likewise, it is bullish that excess cash is
available to repurchase the shares.
NICM offers services and produces fee income for community and
independent banks. They also provide estate and financial planning
products and investment banking services.
The Contrarian suggests making purchases up to the .20 area, with a
long-term target of .40 plus.
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