Are you really done or just not posting since many nasty buggers are taunting you here? Ignore them. You had the guts to post your position, even with a substantial loss, and I admire you for that. Most posters are spineless and post after the fact that they made tons of money - of course they did! I think you should still be able to breakeven by Fall and be well in the green before Christmas. Your MM position is doing well in the mean time.
Betasplen1 - I hold a boat load of VELT and honestly I am very disappointed with the stock price decline. I am not happy at all with the management & bod. This stock was trading in double digits about a yr ago when they had announced $27 mln contract win. Since then God knows how things just went out of control due to many reasons (I blame the mgmt for all of it). Management should have done capital raise when the stock was around $10 knowing they had huge receivables and they needed to pay for the acquisition.
Mobile, mobile apps & mobile branding/advertising is the hottest sector in the tech world right now with daily more mobile devices getting added to usage worldwide.
Under the right leadership and strategy this stock would have been like YELP (above $30 right now) but depressing to see it trade under $1.50
No, I am not adding more as I am not willing to take risk after seeing how lousy the Chairman & CEO is. Also not at all thrilled about CFO who I thought would have been a game changer instead he made things worst for this company. Still am as excited about future prospects of the industry. Hoping this management after numerous blunders will finally for once start acting smart to turn around things !!
Bull, I understand where the frustration is coming from. Raining on Alex is pointless. He is committed to turning around the company and still owns 5% of the whole enchilada as a shareholder. He knows the business and technology in and out as a co-founder. You bet he is disappointed with the carnage too. As for Ross, you got to give him till 4Q13 before labeling him a failure. The biggest mistake he made was not to do a PIPE when the stock was above $5 for a period of time after he joined the company. He knew they will be running tight till Aug - why wait to see if they can squeak through? The second mistake was to do it at a lowly $1.50 and still raise doubts if it was enough. Quite idiotic to say the least. But like I said before, I rather buy at $1.30 and ride it to $8 (500%) next year then buy at $5 and ride it to $10 (100%). So I thank him for his faux pas as I look into the future, not the past or present.
Well, did you buy anymore shares today?
I said yesterday I would be looking for a pullback to buy more shares. In my greed I was hoping it was going to pullback to $1.30 today, but I think I may have missed the boat. Oh well. Congrats to those who may have gotten in today at $1.31.
I think VELT will probably close on the high of the day, granted the markets don't sell off near the end.
We did hear from bulli - he's staying in the same center, in fact roommates with Carl from Slingblade. Carl keeps washing his hands in the air and bull keeps buying huge lots of VELT, but these days on an Etcher Sketch instead of a PC! I never believed that kid was actually buying stock, but if he did, he was able to ruin himself quickly, using 1 simple method that keeps getting recommended on this board: keep averaging down on a loser! Anyway, I'm glad to see that the short position is no longer increasing by hundred thousands every 15 days - 6/15 numbers are out and now its increasing by 1 million+ every 15 days!
6/14/2013 17,457,843 1,392,777 12.534557
5/31/2013 16,416,757 1,514,123 10.842420
Tell us again how the evil shorts are losing, pumpers!