Their capital structure so brutally allegedly fraudulent and anti-shareholders that it would make Bernie Madoff wince. The only other company I can think of that is run strictly to keep the salary, jobs, bonuses gravy train going at the expense of the suffering shareholders is NEWL. This equity, which has lost 99.95 percent too will end up in the dust bin of history. Meantime, the lethally corrupt management laughs all the way to the bank, trophy wives and all.
A Reverse Merger Allegedly outright fraud entity. Sorry, the numbers do not matter. "If true"? It is not true; none of the numbers are legitimate, go track the history.
Bought at 9.75, sold at loss at 9.28 as soon as the intra day uptick did not materialize because, come Tuesday, the bimonthly roll in will come in, and the futures are in a devastating Congtango. Thus, this odd instrument will continue to deteriorate. The reverse split will put additional pressure on the down side.
This ETN is programmed to perpetually lose 70 - 75 percent of its value each year, assuming the markets are flat or declining. If up, it is 80 - 85 percent. Thus, long term the best strategy is to SHORT, short, and short some more.
Unfortunately, this thing is perpetually in Contango, that and the roll expense and rebalancing, plus sell off on splits, and it will slide through into the equivalent of pre-reverse split, of 6. That said, next week it could spike by 5 - 10 percent. I bought at 9.75, and was once intra day recovery was not in the works I sold at 9.24.
I did get big time lucky, and bought AH on the day the Brexit election at 9.68. I did not think that the Brexit crowd would win, but as the numbers at Castle Upon Thyne rolled in, the election was closer, and thus I gambled on uncertainty and volatility even if the Remain won. I was very lucky and surprised that the Brexit crowd won, the market tanked the next day, and I sold that next day at 14.75.
If it didn't spike, sell half immediately and buy at half the price within a month or so and hope for the next spike and sell with smaller loss. (70 percent Annual Contango related decay. this product is perpetually destined to go to zero).
New month daily roll- sell existing month to buy very expensive next month futures. Thus, UVXY will lose ground even if the market is down big. Good luck is barely up or is down slightly- UVXY could be down 10 -15 percent on the day yet again. a
Big news did happen; released quarterly numbers and it is utter disaster: sales down a whopping 88 percent, operating and net margins in tatters, etc. S why did it go up a whopping 200 percent recently? Because it is very heavily manipulated.
This stock will revert to 1.5. By the way, it is a Reverse Merger with acutely fraudulent accounting.
ANNUAL REPORT TODAY
As reported in the Report of Independent Registered Public Accounting Firm on our March 31, 2016 and 2015 consolidated financial statements, we have incurred recurring losses and negative cash flows from operations since inception. These factors, among others, raise substantial doubt about our ability to continue as a going concern."