Question for the crowd if they were in talks to be bought out why they would put up someonmes blog on there web site. That does not seem proper if you were dealing with a google or microsoft. Thay would be seen as trying to pump the stock. If that is an offical press release they have to file a 8-k, which they did not. They also left out the part that the author was long the stock at teh bottom of page. It seems like an engineered pump and dump. I have no position just curious about the move. This is probably no mention on CNBC. They do not involved in something like this. JMH-OP
It seems like engineered pump/manipulation. The naz will contact them about it. I not sure it would be safe to dive in especially that it is up 85%. If anything they will be some profit taking mon am before it starts up again if it does.
I was also surprised to see the press release quickly posted on the company's site. However, i'm sure management quickly recognized the increase in shareholder value and realizing that SEC would contact them for statement on movement, they were probably forced to communicate the PR that got the stock moving, thus putting the information on their site.
Now, if the PR was in fact false in nature, the posting on the site would be viewed as fraud. So I believe it further supports the statements in the Press as true and Local.com is positioning themselves as the gatekeeper of the local search platform.
Guys, it's not a press release. They have separate sections for "press releases" and for "in the news". If you look, they had four different articles posted on July 25 about the patent the day it was approved.
This article is a whole bunch of speculation! How come the stock didn't even so much as blink 3 days ago when this PR about the patent came out? Was there not a single other person/investment group to think about this when the news broke? Now we have a SeekingAlpha article showing us some best case, speculative scenario and all of a sudden local.com is worth double?
It just isn't enough, I'm sorry. I think this one will be calming down very soon, and I put my money where my mouth is.
We'll see if this continues next week, next Q revenue growth is suppose to be 5%, so will be interesting to see how far this will go or not. Strange that insiders didn't hold the shares after all the buys.