CPI International: Uninspiring Financials, But Too Good To Short (CPII)

CPI International - a maker of microwave systems - just came public at $18 (CPII). A very cursory perusal of their prospectus indicates they are uninteresting for us - declining margins and earnings - but too good to short. Ho Hum.

What we really want to point out is that they, or these guys, have some sort of trademark or other legal issue to work out with one another, as their name dilution clearly causes confusion. Very surprising to see something like this that hasn't already been worked out between two successful businesses.