Short sellers know company has clueless CEO, idiot CFO, clueless Management and ignorant Board of Directors imho
groupon CEO was about as incompetent. And look what happened when they replaced him! Velt is much less high profile than groupon so they dont feel as much pressure to oust the CEO but if they did, the stock would pop. CFO is completely competent though. I understand why your upset if you bought much higher but thats what you get for purchasing a company that doesn't make a profit but gets higher and higher revenue. CFO put the stock where it should be. See as how its dropped another 25% since then though, I think its oversold here. Have been watching this for a long time but never bought until yesterday. Sorry to those who are under water, but what would you prefer? A company whose revenue keeps going up and up but never has any cash? Or a company with slightly lower revenue but a steady FCF? If you said number 1, you do not understand finance at all and should therefore remove yourself from the investment community until you take some finance classes. If you said number 2 than that means you agree with the CFO's point of view and will be rewarded for it.
Everyone is mad at this guy because he comes into a company with an unbiased opinion and calls it how he sees it. His goal is to help this POS company generate some free cash flow rather than boost superficial revenue that doesn't help the business.
I feel management leaked out some negative insider information months ago to short sellers and they started building huge short position even when this company won $27 mln one client contract few months ago. Something is very strange and fishy here given this stock goes down almost daily and management sits and does nothing, not even any sort of damage control imho