Short interest is at 9,611,864, 15+ days to cover at 633K/day volume.
Revenue doubled from this period last year - doesn't mean anything wrt Acacia, but it will make the stock go up anyway. I expect the earnings call will give the stock a huge boost, with a good discussion of the pipeline.
If it wasn't for disappointment, I would have any appointments at all. ;)
BTW, it's hard to be disappointed when you don't expect much in the way of revenues right now. ACTG is not like other businesses. Patent law is not like selling hamburgers. Chill out. :)
Long term, this could be a gold mine. Looks very interesting...portfolios are growing, they've got a team of knowledgeable attorneys, with multiple big cases coming up and a significant likelihood of several very large wins, -- surely there will be accumulation by big players over the second half of the year. This should be a fun stock to trade.
Buy silver too. If there are significant wins the costs will be passed on to consumers leading to inflation. ;)
This stock is like a sliding board - it took 1 month to walk up the stairs from 15.50 to above 18 and then just a few days to plunge all the way back. I sold 17.50 covered calls when it was at 18.50 or so but that only softened the blow a little. To lose 16% in just a few days indicates that shorts are still in control here in spite of the pipeline prospects.