Last November Splash Corporation opened an IPO... at a very bad time. Their offering price was 8.70, and then it went as low as 6.10. Very bad timing for their IPO since the market was starting to get bad due to the US's failing economy.
After the announcement of their IPO, I did want to buy some of their stocks. I admire how they were able to start from a backyard business to a big corporation now. One of my lab mates in UPD is now a researcher in Splash and she said that they are planning to go into micro-biology testing and completely stop using humans as guinea pigs. Setting up that kind of lab would probably cost a few millions. Anyway, Splash seems to be very promising, creating international markets, capturing a very good share of the local market, continuously improving their products and expanding their product lines.
I didn't buy SPH because of two things. First, I think their offering price was sky-rocket high for their type. I mean EDC's offering price was less than 4.00 - and its a geothermal field with secured markets! Second reason, I'm not a financial analyst and I'm just starting to learn this investing stuff, so I go by gut-feel. I buy stocks whose products I believe in. Although Splash has a major local following, some of their products are just... wrong! A few years ago I was working on medicinal plant research at the UPM. Some of the students tested local skin care products for possible carcinogenic effects (cancer-causing). All of the products tested negative, except for Splash's! (I just can't remember what product line it was...) So their professor (a very respected doctor of medicine who is also active in clinical research) called Splash's attention, and as far as I know Splash did nothing. Well, I hope I'm wrong and I hope Splash did act on it.
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