Just shorted another 2000 shares. You see, this stock is so weak, don't you think something is wrong, very wrong? I am just wondering now if there is much profits I can make as it drops so fast even with just a few hundred shares. Will it become a true penny stock immediately if I short 10000 shares?
Congradulations on your short of 10,000 shares on 3/17. Did you cover Friday with a nice 10% profit? If you didn't cover, consider holding until the upcoming 10-k. If I was a savvy trader like you I'd double my short and wait for the upcoming 10-k to reveal the scam that she really is.
Be sure to let us know how your short goes in 10 days!
You have shorted 10000 and I bought 7000. Soon we will see who is right. Here you are playing with fire.
By the way, I am not willing to sell under 20$ and don't mind waiting months and year. This is a young company and growing and who buys is a winner and who is shorting will be a looser.
My proof is that I have observed this stock for few months and believe this could (highly likely, worth of taking a risk) be one of many Chinese companies that treats US as a ATM machine. It doesn't matter if it is profittable, once they have some cash they will buy another small company, could be a newly established company, with nothing but claimed good prospect and few employees, with significantly inflated price. This time it is CEO's turn, next time it could be CFO's turn,..etc. This is a general practice of running businesses in some Asian countries and I am taking a risk that this company is doing it, I could be wrong but quite unlikely.
I have two other small chinese stocks besides CELM that are down also (CPSL and SUTR) but still have good fundimentals and I still believe the small Chinese stocks will do good in the future. Compare products: Lift every item up in your house and see where it was make. 90% of everything is probably make in China. Even Mr Coffee is made there. In China, they do the same. Is 90% of their products made in the USA?