Greenberg: Can Iridium Avoid Another Cash Crunch?

SAN DIEGO (TheStreet) -- I was on-air at CNBC Tuesday when one of the anchors asked Jeff Saut, the chief strategist of Raymond James, his favorite stocks.

Jeff, an old friend, immediately said, Iridium (IRDM).

To which I said, "I just red-flagged Iridium in a 3,000-word piece on Reality Check."

To which he said, "Ron Baron," of Baron Funds, a well-respected manager, with an extraordinary track record, 'just bought' a lot of Iridium's stock." (Which he did, as part of a recent effort by the company to raise $220 million.)

To which I said, "Green flags and red flags, that's what makes markets."

That is the one thing I don't believe you'll find any disagreement regarding Iridium, or any other company.

In my years of doing this, there is one truism: There are very smart people, who think they know better, on both sides of many stocks. Often they both get it right and wrong, depending on timing. But in the end, one often prevails.

On something like Iridium, it's too soon to say which side will be right.

But to suggest the stock is set for a flawless launch, without even a tinge of hesitation, would be a stretch.

With Iridium, the bears got it right the first time around, in the late-1990s, when Iridium, which makes satellite communications, was one of the great battleground stocks. I affectionately called the company's legendary investment message board fanatics the "Iridiots," as they would hoot and holler at anybody who dared raise red flags over the company's prospects.

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