I am initiating ALDA with an Accumulate rating as of today, August 1, 2009 as the stock sits at $3.30. I am increasingly impressed with how well the new VooDoo shafts are selling. This will translate into a higher share price for the stock. ALDA has sales north of $50 million and a market cap of only $17 million. The share float is only 3.8 million. I expect ALDA to be trading north of $6.00 a share sometime over the next 24 months. As noted by several analysts there seems to be a pent up demand for golf equipment. ELY made a nice move on July 31 based in part on this thesis. From a technical perspective ALDA appears to have formed a double bottom. Entry at these levels is justified when analyzing this security and its valuation.
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