Very interesting that the short volume has only accounted for a little over 20% of the volume over the last 2 days. Understand the difference between volume and interest. Volume can be buying or selling short, it is not short interest which is only released about every 15 days. I think the day traders have taken over and will pump this up go short and pump it up again. Based on the low short volume so far it is possible that the current rally isn't over and we could test $0.20. I don't think so and already sold but it is possible. We'll see where the new base is. For that I'm guessing somewhere above $0.10.
One thing I am certain of is that sometime between now and when bidding closes in December VELT will test $0.20. Been in many BK plays and it will be a typical pattern. There will be speculation about other bidders and shareholders maintaining value. There will also be speculation about what portions of the company are actually BK.
You guys don't know how this game is played which is why I doubled down at 0.08. Your investor base some 40 Million shares are now net long at 0.08 to 0.11 so these people will not be selling their shares until there is sinificant pressure which means unless it goes under 0.10 these people won't be selling a share until it hits a specific target. It is much more likely to test upper resistance than go for a double bottom as we were pricing in bankruptcy 2 days ago. After confirmation that VELTI stock will not be affected by the US sub filing there is nothing but upward pressure as we moving into earnings next week. If they announce flat revenue this Q or above current estimates you'll see it retake the 0.50 level before trading bak down.
Mr. Starfish you are correct. I didn't look through everything thoroughly. There will be no Q arriving on this symbol. That is a good thing. Where it goes from here I'm not sure. Still looks like a high risk bet. I am going to do a little digging to see what Velti PLC is worth.
Correct and it could go much higher. The good thing is that I sold most of my shares at $0.27 and held back only 46,000 shares and then got lucky and bought back 191,000 shares at $0.07 to $0.085 and now got to figure out the problem with Uncle Sam.
Yep. That first pop that we are still in is highly predictable and happens almost every time. Becomes more random now but will follow news and speculation from the BK process. Not sure if I'll get back in again; depends on how much it drops.
I am currently looking at EBIX and SD. Have you ever looked at these? I have a friend who runs an extremely small hedge fund and he said that they have been buying EBIX since the $9s.