it was very oversold at 26 cents. it still not overbought on most indicators. i thought about buying some as a trade under 30 cents but the trend is so strong downward i didnt want to mess with it. i could see a pop to 45 cents on a trade, but it is hard to buy such a disaster of a stock. good job to those providing support under 30 cents. any pop will be followed by a bigger crash, so beware, unless Jen Cue stuns investors. what a sad mess.
the numbers will be bad. this is a company on the verge of insolvency. they will be less bad. but it is like saying your fatal cancer is not as bad as we thought and you could live another 3 months.
as they fire people and cut marketing etc. losses decrease. maybe they can be profitable at a certain level of staffing and sales. but do you want to invest in a public company with 3 million in sales? that is less than an average mcdonalds.
so unless cue invents a new way to increase sales, increase margin, and decrease costs dramatically, what can happen here? and they have less than a year of capital left in the best of circumstances. this stuff needed to be done years ago. instead the executives took money and bought themselves nice things and laughed at the plight of the company as they drove home. no one actually gave a f--k it appears. ka-ching. now maybe cue has a magical plan. if she did we would already know about it.