For those that follow me, it appears Seeking Alpha has backed down from their contentious position of not paying me for one of my articles. In summary, I posted a 'before the earnings' article that disputed some of the research firms estimates that scripts were falling for the last quarters report. Based on shipping days per month/quarter, the summer months had the fewest shipping days in quarter for a year and a half. On a per day basis, scripts grew substantially. Just another short research firm publishing bad analysis that needed debunked.
Anyway, it was timely because their report coincided with a new Citron blog and the options were going haywire. Options reversed quickly once decent analysis was published, and continued to do so into the earnings report a few days later.
Seeking Alpha contended that the page hits (times the article was read) was pumped by a nefarious plot to get clicks. I explained in detail why it was a very timely article and more clicks would be expected, also how trading in the stock and options changed drastically upon publication.
A few back and forth conversations and they said they would look into it. A week later, they stood by their decision to not pay. I indicated that I need that as an official statement and/or cut the check for the reduced amount so I can file in small claims court. I also stated they should be prepared to elaborate on their algorithm for determining if clicks are valid or not, as my lawyer will demand it in discovery and the judge will need it to evaluate their position.
No response for weeks... but apparently they cut a check for the full amount on Jan 24th. I'm awaiting it's arrival in my mailbox.
I post this as an FYI warning to would be authors. This coupled with editorial staff issues, political issues surrounding posting negative news unless it is written by their full time staff, and other headaches, makes them a very unfriendly place to publish to. Prepare yourself and only publish there if you really need them for dissemination. It's not worth the money or headaches. Hopefully I made a dent in them though, for other writers sake.
Full payment for those 6 articles is $270.86 Woohoo! So obviously I wasn't fighting this for the money. It's the principal of it and if necessary I would have spent 10 times that fighting in court for the principal.
That's great news, I find that good judgement prevails, as soon as they know your not backing down. Typical of big corporations to try and push the small guy around for pettiness. Congrats!
Sentiment: Strong Buy
Mikey, just a perfect case of sticking to your guns and not backing down. It's unfortunate, but for uninformed would be investors many of the SA articles can lead them astray. The value is in being knowledgeable and using the articles as a look see unless you know the writer has validity, such as yourself. As we all know, some of the authors really can be misinformed or else have an agenda. In any case, don't spend your windfall all in one place. Have a good weekend and we can all look forward to some positive fireworks in the coming weeks.
Sentiment: Strong Buy
Mikey, I'm glad they came through but doesn't sound like an outfit you (or anyone) should be doing business with. Your writeup here does show that you DO HAVE INFLUENCE :-)
PS. I never did thank you for your KERX tip. I didn't buy much (5k) but it performed magnificently and I owe you at least a beer or two in Vegas. THANX MUCHO...great call !!!
Thanks maxdad and glad you made a few bucks on Kerx. Even a small spec play that turns out well can really keep someone going while they await a QCOR to start acting like it should.
Influence here is minimal at best. Publishing even on SA or MF can get mass dissemination and thus real influence. However, as you note, neither is an outfit to really get too involved with. Sad really as either could be a very good outlet for non-professionals to publish quality research.
Gotta start taking a look at the FDA calendars and see if there is anything on the horizon worth researching now. I focus on few stocks at a time (as you know from our conversations), and I'm out of good biotech spec plays now.