I visited the "coming soon" location in Mobile AL and the building that was supposed to be completed by the end of April is still at least a month away from completion and the Pie 5 buildout will begin then.
I am not sure we saw much short selling today. Looked more like profit taking from people who bought sub $1. They should hold on a little longer, I think they are leaving money on the table.
JRJR Networks starts trading today with a new name, cusip, ticker and registrar. THIS IS THE BIGGEST INSTANCE OF A COMPANY SETTING UP A SHORT SQUEEZE I HAVE SEEN SINCE PORSCHE/VOLKSWAGEN. Starting with todays cusip change, shorts will have to prove a borrow on the other side of that short trade and they will find that the new shares are not available for hypothecation for a spell. The company was called CVSL, but they changed the name, the ticker symbol, the cusip and the registrar several months after they discovered a 2 million share naked short position in offshore account. It takes effect today and the stock was up almost 50% the last two trading days leading up to the change on just a small uptick in trading volume. CVSL management watched their stock manipulated at the end of each trading day for months in an short sellers attempt to keep their stock price down to the $1 level. Look at daily charts yourself to confirm this. As of March 2016, the company will have trailing twelve month revenue of $167 million. They have 10 operation companies, three of which are 50 years old or older, very well established companies with entrenched products. Their senior leadership led the biggest and most successful LBO (Mary Kay Cosmetics) in direct sales history and they have flipped stakes in Avon, Blyth and Herbalife for very large short term profits.
Hi Joshtaeger, so you still think JRJR is a good short at these levels? For instance, on Monday if you get a chance to short at $1.50-$1.60 range you think traders would do well to establish a short position at those levels? You have been negative on this stock for a long time and you have mostly been right, at least from the standpoint of the direction of the stock as it has been a poor performer over the last year. But I believe the momentum has just shifted the other way and that JRJR is a great buy right now. I think JRJR is a great buy at $1.50-$1.60 and investors who buy in that range will make very good returns over the next 30 days to 5 years.
So my question for your is simple - should investors buy JRJR at $1.50-$1.60 of should they sell it short?
Sentiment: Strong Buy
Cusip and Registrar change to combat naked short sellers. Co. announced this afternoon that this will take effect Monday, no way a naked short with 2 million shares can cover in just T+3 days, this could be your triggering event
I am not even sure if anyone realizes the value of the YIAH business. Companies like that are larger but growing slower than YIAH are getting VC funding at 10x revenue.
Sentiment: Strong Buy
Good move. CVSL (now JRJR) has over 2.3 million shares sold short, with 2.3m naked as confirmed by Share Intel. This is why the company changed not just the name, but also the symbol, cusip and registrar. The shorts will have to prove a borrow, which they can't. They will then have T+3 days to buy to cover and this stock trades at about 100k shares per day. You can do the math, this could get ugly fast. Stock already up 45% since yesterday's opening.
Good point, the setup make it look like tonight might be the night. Up 30% intraday and it looks like the cusip change will be Monday, so there are 2million+ naked shares that will have to locate a borrow or buy come Monday
Obviously you are mistaken. The employees whose offices were in the basket have been moved 12 miles away to some of the unused space in Longaberger's 1 million+ square foot production facility that had plenty of space at zero additional cost. They will need all that extra space soon, because the sales force has grown substantially from the levels it had fallen to this time last year.
Sentiment: Strong Buy
Up 30% already. Wait until the big volume comes as other traders catch on to what is happening. The short position has to cover, DTC accounting for new cusip shares will require it. T+3 days...
This is why I think it could be even bigger than the HLF squeeze
HLF holders can appreciate a good short squeeze. JRJR, (a sister company to HLF in the direct sales industry) discovered discovered a naked short position that amounted to over 20% of the public float and about 25x the average daily volume traded. They changed the name of the company and the stock symbol from CVSL to JRJR to force the naked short to cover. The cusip changes tomorrow. The stock is already up 24% in the first half hour of trading and the average daily volume has already traded. Shorty is trapped. Join the fun.