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  • investora2z investora2z Oct 20, 2013 12:48 PM Flag

    High volumes recently

    The company has been in the news recently and the stock has also been extremely active. The recent volumes indicate increased interest in the stock. Last few days have seen more than 3 million shares being traded. This is also due to increased awareness about the potential of the market for used phones and electronics goods. Launch of new versions of smartphones leads to a spurt in demand for older versions. This draws attention of people to the numerous used phones and similar devices lying at homes. There is potential to monetize those devices which have so far been considered useless. Usell's interface has been praised in a few articles, and the company is also highlighting the advantages offered by Usell compared to other sites which sell used phones. One can get a better price faster, and the process is hassle free. There was an article on seekingalpha recently mentioning that high resale value of Apple products is a unique competitive advantage which is not so easy to replicate. Usell is also planning to include other used products like watches and jewelry which are low weight but expensive enough to have reasonable resale value. The company is getting more active by bolstering its board. It recently appointed Steven Rubin and Gerald Unterman as strategic advisors. Rubin has held senior positions in IVAX, OPKO Health, and is on the boards of several other companies owned / controlled by Dr. Phillip Frost. This indicates the increased interest of Dr. Frost in Usell. Rubin has extensive leadership, business, and legal experience, he has expertise in strategic planning and acquisitions. Unterman has expertise in investment management. Earlier, Michael Brauser was appointed Chairman of Usell replacing Sergio Zyman who resigned as a director. Daniel Brauser, the Company's President, was appointed interim Chief Executive Officer to replace Zyman.