That was a good call on SPEX... who could of guessed - an IP troll holding a basketful of antiquated Nortel patents? And off she goes. Traders are like moths sometimes. Fly straight into the fire.
SPEX is an IP troll, holding (of all the fire-sale junk imaginable) Nortel patents. Nortel was selling patents by the garbage bag just a few years ago, like the discount bag full of stamps you could buy for your collection when you were a kid (off the back of a comic book). So, yes - it's over. It was all helium to begin.
Earnings already out, and it was a minor miss:
Consolidated revenues for the first quarter of 2014 were US$273.7 million as compared to US$310.4 million for the fourth quarter of 2013.
Operating profit for the first quarter was US$71.2 million, a decrease of US$18.0 million compared to the fourth quarter operating profit of US$89.2 million.
Net financial items for the first quarter of 2014 amounted to a loss of US$48.5 million. The loss included US$22.5 million in settlement premium for the prepayment of the US$500 million bond and US$23.4 million in interest expenses, compared to a loss in the fourth quarter 2014 of US$29.5 million that included interest expenses of US$23.7 million.
;) Good one...
My platform shows this:
52-wk hi ~ $8,235.01
52-wk lo ~ $0.38
(So much reverse split, nobody knows what is going on.)
Well, that's what made the stock bounce last time - they bought a boat. You can believe what you want, but i'm crossing my fingers for a new boat.
Well, if 3 boats is worth a pop to $4.50, then a fourth boat should take us to $6 (calculated at a buck & a half per boat).
i dunno... it usually needs a catalyst to bounce (new boat order), like kick starting an engine. I'll just wait & see - catch it on the way up, if that happens.
You could be right, but it's the stock market and anything is possible, especially with a highly manipulated spec. I just don't like to take chances ~ makes more sense to me to buy into the rally than to buy and cross my fingers.
This is the kind of stock that gets manhandled by venture traders ~ there's a couple of traders sitting at a fundie desk with a $10M account who will decide whether NEWL rallies today or not. We're just along for the ride.
what's a "trick sell"? Is that when everybody bails because the downside is more compelling?
This stock bounces when it has hit rock bottom and the fund traders controlling it decide to make a quick mil. Not before.