once it gets over $1 it will fly
Viggle has a line of credit with the CEO who will sell Viggle to a large media company for $10 a share one day. he doesnt want to dilute shareholders
They are going to raise a ton of money for draft Day that is why it is another corporate entity. They will quickly grow to $500 million valuation after raising more funds and advertising etc....
Great story and cheap valuation
Viggle is starting to monetize its customer base.
One large holder owned a lot of stock and needed to close out its position. That artificially crushed the stock and caused others to sell.Fundamentals are strong.
Migration to DraftDay could be huge for Viggle
Stock has been under pressure from end of quarter selling. Maybe some fund had to sell their position. Stock still acts poorly but valuation is really cheap vs subscribers etc....
Its a love hate relationship. The Viggle platform which rewards members for listening to Music, watching television, and participating in trivia and sports games is a great concept. Viggle is paid by both advertisers and content providers for its audience reach. They have over 10 million registered users and have grown revenues nicely. In addition the company owns WetPaint which essentially is a Star focused Web portal similar to TMZ. The company has done a great job at establishing itself and forming startegic deals with Direct TV. But it is spending too much money and keeps needing additional financing. Its CEo Sillerman in March offered to buy 25% of Wetpaint for $10 million while reserving the right to buy the additional 75% for $40 million. This was never spoken of again and is a complete joke and conflict of interest. Viggle has a window to take advantage of its great user base but as of now it is providing second rate rewards, convoluted apps, and loosing too much money. The Platform and subscribers are worth a great deal if they can figure out how to market to them better etc...
lots of value in this name..specialty chemicals will rebound as China burns off excess inventory and stock will go back to teens
Ridiculous? The stock just got cut in half in three days. That is not normal!!! It is highly unlikeley that it is just short sellers and people dumping the stock for no reason.
You dont have time because recess is over? His stated offer to buy Wetpaint has never been spoken of again by the company. Forget being accepted by his board appointed puppets. That in itself is egregious. Of course negotiations dont have to be disclosed but contracts of a material nature do.
I am long Viggle and believe it is worth $4 a share plus but with new management it could be that today.
It has to be accepted by himself for he controls the board. The price he suggested in the spring would be its entire Mkt cap at this point. Any "material" information must be disclosed by the company at all times. A company with nothing to hide or cared about its shareholders would release a statement reassuring stockholders that nothing is going on behind the scenes to warrant the stock price loosing half its value in three days.
Ceo stated in Spring he would buy Wetpaint division of VIggle and then nothing is ever mentioned again. At same time his other company SFXE which he pretended to be buying to hopefully get another bid just crashed to 40 cents when it was discovered to be smoke and mirrors. Now you have VIggle loosing half its market value in three days to 80 cents without a word from company that is failure by management and smells of something going on. Someone knows something.
The CEO has it in for himself. He does not fully finance his companies, he spends way too much money without coming close to profitability with bad financial plans, he makes promises he never delivers like buying assets of companies he doesnt intend to actually buy. Viggle is a great concept that is running out of money and shareholders are tired of the lack of profitability.