You'll notice that they have so overdone the pumping with two or three articles a day that no one pays attention anymore to their krappy pieces.
What'll be fun to see is their 10-Q which is due by Monday. We might not totally crash and burn until after that comes out.
They Pump-4-Pay at the princely sum of $250.00 per article meaning some lowly company drone is getting paid $50 for every article they submit. Pumping for pennies.
'LiveDeal, Inc. Disclosure: Stock Market Media Group has been and expects to continue to be compensated for writing articles, research reports and conducting interviews with company officials. Stock Market Media Group writes extensively about LiveDeal, Inc. and for those articles, reports and interviews, Stock Market Media Group is compensated $250.00 per article, up to $2,500.00 per report, and up to $2,500.00 per interview by a third party and expects to continue to be compensated for its research, writing and dissemination of that work.'
I just want to point out that thestreet is a perennially money-losing operation ($150M in NOL's) that probably rents out their pages for some extra income. This 'Christine Andrews' is some kind of pseudonym since she doesn't exist in a google search and no hedge fund analyst flies that far under the radar. And the article 'she' wrote was laughable (yeah LIVE's gonna eat GRPN's lunch and I'm going to become the first jewish Pope).
Conclusion? It was a paid pump piece.
btw- we'll have a clear look at their financials by next Friday when their first quarter 10Q is due. Bloodbath to ensue.
Exactly my thought. Enough investors must have clicked on their website trying to find the source, a source, any source, of revenues for this gasbag that it drove up their numbers.
You can get shares right now at IB. Apparently a lot of shorts must be covering prior to the split freeing up shares.
Once upon a time I shorted 4000 shares of a $10 stock (long since bankrupt ADSP) the day before Thanksgiving in 1999 (yes there was a stock market back then). It had jumped from 3 to 10 that day which was pretty much par for the course back in that insane/bonkers time. The half day after Thanksgiving it gapped up 100% and opened at 20. Over the next 45 minutes it proceeded to climb to 57 over the first 45 minutes of trading. It was like watching the odometer of my net worth spinning back to zero. Got a phone call at 7 am (PST) from my broker DLJ asking me what I was gonna do? Fortunately I had a slush fund of 50K that I was able to tap into to protect me from getting bought in. The rub was that the market closed that day at the same time banks were opening here but they gave me some grace.
They could have bought me in at any time of their choosing but they didn't or I wouldn't be a retired-early successful trader today 14 years later looking at the latest POS - LIVE - to grace my portfolio.
That Day of Infamy was seared into my psyche and tho I made my career as a pro short I never again made the mistake of overconcentrating my portfolio into any one position. While this could be a painful mistake as a long sooner or later it's a career ender as a short. Therefore my advice to anyone who shorts stocks is to NEVER allow any position no matter how tempting to exceed 15% going in, and much better to keep it under 10%. That way if it triples on you you still have the option of closing everything else out to protect the position.
To zic_zac I'm very sorry for your loss. I know it hurts all the more to lose the money to some manipulative POS company for all the wrong reasons but the odds of a short class action lawsuit are slim. There's one going on now against Porsche/Volkswagon.
No one would call you an idiot. Liar, maybe, but not idiot.
But then that's what we call every retail stock jockey who AFTER the fact posts their absolutely perfect trades.
I will vouch that freespeech alone has been here week in and week out deflating all the company lies and garbage. Boxing a short is a perfectly smart and valid strategy when you're holding onto very hard to borrow shares in the middle of a pump campaign.
What really points up the idiocy of going for a 3:1 split on a 14 dollar stock is that very soon LIVE is going to have to reverse split in order to maintain a minimum $1.00 value for continued Nasdaq listing.
They're so transparent and clutzy in trying to pimp this stock.
If you're the sort of person who buys a stock without doing any serious DD after it's been heavily promoted and has risen some 800% in a month then you are exactly the sort of person pumpers and manipulators are looking for. You're roadkill for them and you'd be doing yourself a huge favor by NOT investing in individual stocks. For most people the best bet is to invest in an index fund. Count yourself in.
Whatever it may have been it ain't the same company today, not after they incinerated $365,000,000 in shareholder equity. Mgmt has been running this into the ground for years and there's no way they're going to be profitable. They'll just keep it on life-support so that the mgmt (the real owners) can continue to leech this is more salaries, related-business wealth transfers (ie- to mom and uncle and nephews), etc, until they have to pull the plug.
Normally failing companies can postpone the date for years by selling equity at lower and lower, more dilutive prices. It's how you get OTC companies with hundreds of millions of shares. But VISN can't because of the $72M judgment against them in the USA. If they tried to raise more money it would be seized by the courts to satisfy the judgment.
So they're goners sooner than later.
It's taking you to Marrakesh . . . All onboard that tra-ain, if you haven't got a bra-ain!
As you can tell news of this was selectively leaked three days ago which explains the mysterious resurrection of ARCW. Today they get to sell the news to the newly minted bagholders.