On the other hand, if the CEO does another convertible or if they can get a deal priced in $4+ range, that would be extremely bullish. I am liking the price action today, looks like whatever they are doing on the financing front it is being well received by the marketplace. I have been a holder, but I am a buyer again now. Sharecare, Roomlia and KanKan have way too much potential for Remark to stay this low for long.
Google GrooveVC and click to read the blog where they do updates. Remark short interest is at highest in company history with KanKan launch "imminent". Value of Sharecare stake with more than entire current market cap and roomlia just starting to take off.....
Hey James Frank, the other Groove recommended stocks are RAVE, INUV and TZOO. The first two have hit new 52 week highs this month that are around 100% higher than when Groove recommended them, so it should appeal to you and other short sellers. If you can get them to retrace back to the price Groove recommended them, you can double your money
Travelzoo was added to the focus buy list at GrooveVC last night. The last stock they added was RAVE and it went up over 50% in 9 days. TZOO is very, very cheap at $9.20, should be back over $10 soon.
Sentiment: Strong Buy
Tomorrow morning when the market opens you will want to start buying as many shares as you can to cover or at least box your short position.
Sentiment: Strong Buy
What would be frivolous about bringing a shareholders action against the management of HIPP? They clearly misled investors on the last earnings report, suggesting that CFBE was near, a reverse split was imminent and that they were doing their jobs - working to increase shareholder value. In fact, they were working to find a way to continue to get their oversized salaries at the expense of shareholders. I know pubco management teams frequently dance very near the line and even into the gray areas with their quarterly releases, but the statements made by HIPP mgmt on that last earnings report went well beyond any gray area and even failed to use some of the hedging words that management could have used to avoid liability - they did not and the result is that their words were beyond misleading - it was pure deception. .The best approach may be to pursue them personally though - then the E&O guys can pay a little to shareholders and the individuals who have done wrong here will be difficult to insure going forward and it will make a better record of their malfeasance and incompetence.
The short interest report for Remark last week was the highest in its history - 185,000+ shares. With the trading volume running at a 10 day avg of about 13,000 shares, it would take over 3 weeks of trading with all trades buy to cover transactions to completely cover that position. Of course, the volume is higher today due to the Project KanKan announcement.
You guys who are short Remark are nuts. The KanKan launch could easily cause a run on Remark shares and it is so thinly traded that it would blow through $10 pretty easily. You have been warned.
Simple math though I did understate the short interest - its actually 189,942 not 185,000. The 10 day average volume was just over 13,000 shares before today's close, may be slightly higher now. Divide 189,942 by 10 day avg volume of 135 and you get 15 trading days. That means it would take over 3 weeks (5 trading days per week) to cover it.
No one here believes your lies. You should cover now.
The filing will be made after they find a price at which the offering can be placed.
Looks like they have been unable to get an offering done at the price range they wanted and it will be going sub $4 now, may be a little more dilution than expected.
A significant short squeeze could ensue over the next few days if today's short interest report does not show a large part of the short interest outstanding being covered. It had already reached 200,000+ which is pretty eye-opening for a stock that trades only 10,000 shares per day. With the KanKan launch likely just days away, I see many factors that could lead to a pretty big short squeeze here.
Sharecare IPO will be at $2billion + . Remark could easily cash in at $60m+ for their Sharecare stake right now, but mgmt knows Sharecare IPO will be a blockbuster.
Short sellers have been trying to exit today, but there was nearly 400k sold short and some part of today's buying is new buyers due to the Oribitz acquisition. No way shorts are even halfway out yet and they know how quickly this can go the other way. I wonder how many will try to get out before today's close.....
This article is on point - the low float and thin trading make the 150k short position (which may be higher by now - next report Tuesday) pretty squeezable. Watch for these guys to cover over the next 2 or 3 sessions. The KanKan launch could happen any day now.
Sentiment: Strong Buy
Either way, the shorts (likely Discover Growth main culprit) are about to get the horns
149,000 shares is alot for remark, they will push the stock much higher trying to buy back that many
Looks like a long slow squeeze may be starting - up over $10.40 this morning. Have to imagine it would pop pretty big if the company released ANY news that was even slightly positive.