Zagg expectations
I’m looking for 3 big announcements within the next 30-40 days per the last investor conference; Zbox appears to be a 3rd party product that will be sold by Zagg, a new “game” changing product, and of course NASDAQ listing. In terms of the price, I do think we will see a bump up on all the forthcoming news.
However, I just can’t help but think the overall market is inflated currently and we may see a general downturn in the next couple of months. Our political leaders may be calling a bottom of the economy here but we can’t ignore the facts of unemployment (approaching 10%), savings rates are now increasing which impacts consumer spending, tighter credit, foreclosures still to come through 2011, and finally continual de-leveraging of credit card/commercial debt (with correlating defaults).
Zagg has done well despite the market’s overall hiccups, however, that’s not to say it will not be impacted going forward since the price is still trading at higher trailing P/E levels. It will take a steady mind to ignore the volatility to come and just trust that Zagg’s future earnings power is what will point us upward.
ZAGG announced the appointment of an additional member, Ed Ekstrom, to its Board of Directors. Not only will this satisfy NASDAQ listing requirements, but Mr. Ekstrom brings experience from working in executive positions for Hewlett-Packard and Intel. Mr. Ekstrom has served on the boards of several companies and is currently Chairman of the Technology Advisory Board for the State of Utah, as well as a managing director for vSpring Capital, an early-stage venture capital firm.