I believe Left and CNBC should be investigated by SCC if these allegations prove to be wrong..He must have made a fortune as UBNT shares tanked and that reeks of insider trading to me. False allegations cause shareholders millions of dollars by these short seller and that's just BS.
* Ubiquiti Networks Inc (UBNT) - expects its revenues for its fiscal quarter ending September 30, 2017 to range between $240 million and $250 million - SEC filing * Ubiquiti Networks Inc (UBNT) - on September 18, board of directors of company approved an additional $100 million stock repurchase program * Ubiquiti Networks Inc (UBNT) - new repurchase program expires on September 30, 2018
Pera went to the same school as me, UCSD. He was well regarded for the Ubiquity startup. Pera is not a #$%$. He is just not some big business CEO type. The company has been run with minimal overhead which destroys profit. Anyone here who doesn't understand what overhead can do, has a lot to learn. Pera understands it and the insidious nature of overhead which becomes so engrained that it's invisible. Netgear and Cisco are typical corporate behemoths literally drowning in overhead. I worked for Boeing for a long time and there was only token effort to control overhead. Overhead budget pools were so large that I personally conducted multi million dollar wind tunnel tests and charged them off completely to overhead.The sad part of all of this is that corporate America is virtually all hoax and Pera and Ubiquity make them look bad so they're the villains
They are saying that the real fraud is that their execution is unreal. I have personally dealt with UBNT and they are quick, nimble, do things fast, and the culture is full of very smart efficient driven people. On top of that there products are disruptive - they are great products, amazingly designed, and are cheaper than the competition.
I will admit to getting scared out of my position by Left. (What if he was right?) But it's nice to see his followers getting beaten up here. Testimony to the folly of conducting a short raid on a company where the principal holds 70% of the stock.
Interesting remarks from Left's Wikipedia profile: Left's first job was with Universal Commodity Corp, a high-pressure commodities brokerage firm that hired salespeople to make cold calls and push "questionable investments." Left quit in March 1994, after 9 months with the company. When the National Futures Association sanctioned the firm in December 1998, Left, along with every other former employee, was sanctioned for three years along with being required to take an ethics-training course as part of the probe into the firm for making false statements to sell commodity futures contracts. The National Futures Association stated Mr. Left “made false and misleading statements to cheat, defraud or deceive a customer in violation of NFA compliance rules.” 
Speaking of not making any sense: Why no response from Pera or the board to any of the charges made by Citron. If the numbers speak for themselves, present them. Particularly interested how cash overseas can be larger than US cash when most of the sales are in US but the manufacturing costs are overseas. It is not obvious on its face, say something.
Why would someone who has engineered a worldwide fraud be working with multiple international law enforcement agencies including the FBI to recover stolen funny money. Robert is really good...and the legend grows.......Roberthood!
The reason Pera doesn't go on CNBC is simple. Just do a search for:
Jim Cramer on Jon Stewart
Jim Cramer talks about how to manipulate a stock
Then go to the website Deep Capture, run by the CEO of Overstock, and learn about how CNBC is in cohoots with all these guys. How else do you think Left gets on CNBC?
Oh yeah, Patrick Byrne won a $5 million lawsuit against David Rocker a short who spouted nonsense like Andrew Left.
All of these lawyers announcing investigations. Lol
must be nice to go short and then use CNBC as a platform to bash a stock. nothing in their presentation points to anything new. the latest financials were audited by accredited accounting firms and with unqualified opinions. so, who do you believe - a firm with a stated short position or an impartial top accounting firm which stands to lose a tremendous amount of credibility if they miss a supposed fraud this large?
It's comical in the interview on CNBC. Left says "it's not plausible" that Ubiquiti is "beating the pants off Cisco". Well, if he had any credibility he could just go to the Dell'Oro Group, an independent tech market research firm, and but their research and thus discover that, indeed, Ubiquiti is beating the pants off Cisco. What motivation does Dell'Oro have to lie?
Discussion, critique and analysis of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following: Last Time Out; Aesop's
Anyone watch the CNBC video? Wopner and Cramer made it look like there was only one fraud and that just may be Left. I think his days are numbered with getting on CNBC. I kinda think Ubiquiti has grounds to sue him. Shrill midget.
Hey Left, loved your Chemours call on June 2, 2016 at $8.86. Stock is now $51.40. Nice call you shrill midget.
Wow, now Andrew Left's buddy Unemon is making racist comments on twitter. You CAN actually file a complaint with the SEC about this and they will investigate.
I have held the shares for over two years and did not sell when it went down in the mid twenty’s. I did sell at 67 but have been buying back slowly with my last major purchase at $54.50. There is a huge vested short community that would do anything to drive the price down to cash in on the momentum. I do not think citron has a short position but they are most likely being used to help the other shorts. Why do I have so much confidence? If you look at the mutual funds that are holding that this company amongst them is Akre holding. Check out the performance of the AKREX. This guy is a very savvy investor and he has been buying the stock in the low thirties. Normally, I highly respect shorts and am very careful to go against tehm. But I know this business model and they have a significant competitive advantage. Right now, the stock is selling at a bargain basement price.
On the bright side of things, this is more free advertising. All this publicity will make more people aware of the great products coming from Ubiquiti.
Loved Citron's call on Mobileye with a Target price of $11. Taken out by Intel at $63. He's just another shrill midget.
Big selloff today, has been weak for the last several weeks, does someone know something