I cannot fault people for taking a profit - but you have to recognize a winner when you have one too. Sometimes I flip, other times I hold. In this case this just put up huge numbers, has a small float, and a massive short population. If you just look at the chart just 3-4 months ago this was trading at $10. Now we have the numbers to support higher prices and people are taking a profit here? Let it ride guys, in a few weeks we will be in the $6-8 range and you will be kicking yourself for selling here. GLTL's...
Another stinking short. Look at his posting history:
I lost about 70k on the way down from $15, but I am still up about $200k total on this stock to date. I first bought in at 0.60, made it 100% of my portfolio at 0.50 and didn't sell any until $14.22. Yes, I got very lucky on this one.
Now, I got killed on MOBI and QPSA recently, but not so much here.
Sorry, but I find it easier to just tell the truth - keeps the story easy to remember...
The flaw of your argument is that it is based on "questionable" accounting. Granted, if accounting can be trusted, GFRE is a great story!
But with all Chi-frauds, the big question is - can accounting be trusted?
do you think BAC doesn't use questionable accounting, or NFLX, or any of the other companies? LOL...not saying that there isn't "questionable" accounting used but all of the market uses questionable accounting. Without the change away from mark to market to mark to bubble accounting in March 2009 the financials wouldn't have a profit...it's this Enron style accounting that allowed them to appear profitable while legally cooking their books.
I think GFRE could be pushed up another couple dollars. Look at JAMN and its recent short squeeze, within an hour or so from $4 to $6.5...
If you could fully trust the accounting, it would be trading at a forward PEG ex-cash of at least 0.5, which equates to a share price of $39.20.
So you could say the doubt is priced in a little bit.