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Trade: Buy CRYP

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Cryptologic is a Dublin based supplier of software to online gambling sites. US banned online gambling late last year, plunging the stocks of CRYP as well as their competitors.

CRYP seems to have planned for this eventuality by rapidly shifting most of their business to Europe, including relocating their HQ. I think they will be able to get back to their historical level of margins as they rebuild their business and thus I think that the market over-reacted to the news. Thus this stock has uncertain outcomes but low risk since most of the worst case scenario has already been priced in. The stock should recover with news flow of European and Asian customer deals.

Thursday August 02, 2007 : 07:19 PM

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