TAKING STOCK: Espying a tough road ahead
By KRYSTLE CHOW
Published in the Ottawa Business Journal newspaper and website.
Aug. 4, 2008
Click here to view this article on OttawaBusinessJournal.com.
Photo by DARREN BROWN for the Ottawa Business Journal
Internet TV products maker Espial began its public life with a bang, with the company’s stock price soaring by more than 12 per cent on its opening day in June 2007 on the TSX, quickly reaching a high of $9.25 about a month later.
Since then, however, Espial’s shares have dwindled to a mere 95 cents each, an 87-per-cent plunge from the company’s debut price of $7.85. Partnership agreements with significant service providers have been fairly thin, and the company was forced to cut 30 per cent of its staff at the end of 2007.
But now, the company is hoping to turn itself around with the $6.6-million acquisition of California-based competitor Kasenna Inc. But what will the market think of Espial’s prospects with this addition, which the company has said will expand its footprint to (more…)
