If everyone could buy a stock when good news is made public and have the stock be worth more the next day then how would the people who knew the good news was coming out before it's made public sell their shares for a profit when the news comes out?
Also how would experts at TA and trading, who sense when a stock is temporarily overbought make money?
Don't worry. Based on implications covered in the conference call, Mitek's a great long term investment and that's how big money can be made.
It'll be two steps back and three forward for a long, long time. Just all my opinion and I'm not the smartest one aboard. Try not to sell on the two steps back. Try to buy then. If you didn't do that, the long term should be the cure, imo.
Mobile Photo bill pay is in test pilot stage; should be huge and global; it's not even rolling out for 6-9months. Mitek has the patent, people, the business relationships and the endorsements, valid method and strategy for getting to market and increasing the value of your shares.
Infrastructure is in place. No pipe dream. Pipeline.
Just a matter of time but there will probably be volatility and downward drifting stretches between news in the meanwhile.
A lot of people bought recently at over $4 and $5, some are holders with weak hands and they bought from traders who realized a temporary top would come in. These traders will be back chomping a the bit and they will support the price.
Lots of shorts need to make a little too.
The revenues recently reported were not enough to wow the market so let the shorts make a little quickie. No biggie. We're long. We see fruition ahead. Recent revs were produced by little chimp Mitek of the past; longs see a big gorilla.