I've lost most of my interest searching for news to keep everyone including myself up to date. It might be a little different if my cost avg was a nickel but it's not. 231.6k @.473 , my opinion now is it's a cr&&pshoot whether this can be traded up to reasonable levels, but my intuition tells me something is "wrong" here in the fact we haven't gotten so much as a relief bounce even to a nickel. I'll continue to just hold, and I don't believe Edgar or IW are necessarily shorting, but they either lost big in the past or might be former employee. If any news comes out it's still over a month away since that's what's lined up in the dockets. Glta
Hi ed, I noticed you brought your cost basis down quite a bit. But as you already know, it will take a 2300% increase from here to break even. Are you looking to get out at a lower price with an acceptable amount of loss? I would buy here if I thought news was imminent. But in the last 6 months, whatever is left of management, has thrown in the towel of trying to keep any shareholder interest here (except the shorts). They even say don't expect anything - wish they were that honest when I called last year. I agree with you that the 1s is not a buying opportunity with the dearth of news. The only silver lining is that we can probably still buy in the '3s' range IF there is any positive news, to ride the wave to a dime. Will keep watch on this ticker..
It sure looks bad but not declared worthless yet. Pretty close. At this point there is no choice but to hold and hope. The company is silent during final bankruptcy proceedings. VELTF is not dead yet.
re:The company is silent during final bankruptcy proceedings."
Yes, they are slient, but they are not bound to remain silent. They COULD say something if they wanted to. I have given examples of stocks that are currently BK (FMARQ, ECTYQ) and those companies continue to update their shareholders. My question is why does Velti continue to remain silent?
re:" but my intuition tells me something is "wrong" here in the fact we haven't gotten so much as a relief bounce even to a nickel"
Yep, you got that right. Something is definitely wrong with this company. Hell, you would think after seeing the stock hit a new all time low the other day management would have issued a PR to update the shareholders. Never in all of my 25 plus years of trading have I ever come across a company as mute as this one. If they gave out awards to companies for being the quietest, Velti would win hands down.
ed, at least learn a lesson - never, ever average down, no matter what. In the long run, you are much further ahead to follow that 1 rule. It is not always right but in this case it would have helped you prevent a 6 figure mistake. One other piece of unsolicited advice: sell 231,600 shares today and get something vs holding for zero.
...categorical imperatives like "never, ever average down" are useless...averaging down is a tried and true investing technique, and certainly can be a profitable move...notice the "can be" as opposed to "always be"...the stock market is legalized gambling...there are no guarantees, either for profit or loss....GLTA
Not selling, I already have tax losses to carry until 2020 from another stock, and certainly won't sell when we are only 1 month away from hopefully exiting bk court. If I lose the last 4600$ so be it
It is depressing but I am sticking with it. kinda like a roulette table except we still have a chance the ball has not stopped yet . Thanks for all the searching for news that you did edharris. It was appreciated by me and I am sure other stock holders would agree.
I won't quit, just maybe cut my daily research for anything in half. Just drained from trying to convince myself the stock price is just an illusion and that's where we longs "capitalize". But 0.018?? C'mon now! The base at .32 gave out after 7 weeks and .03 just yesterday after 8-9 weeks. I can't justify buying at these levels, but I hope something interesting happens after middle of May