NFLX was heavily short sold to $57 and now its back to $188 just remember that
NFLX was heavily short sold to $57 and now its back to $188 just remember that. There were days when no one liked at even under $60 and so much negativity just like what's going on with VELT lately. Look now, everyone wishes including me that I loaded it when it had dropped from $200+ to under $60. VELT will see $10 or higher for sure this yr. Just have patience folks. I added 10k more at $3.75 earlier and not worried at all.
Its a shame that management is keeping mum so short sellers are taking advantage. Value erosion has come to a point where it makes no sense given revenues between $275 mln - $325 mln conservative estimate for 2013 should place a value north of $600 mln but current valuation is around $225 mln based on $3.50/share price.
That is why I added 10k more yesterday at $3.75 because I know this stock is way too oversold and undervalued currently. Should be well over $9 like MM and long term will be $25+ just hoping buyout doesn't happen while the valuation is so low because I heard few potential suitors are interested in acquiring.