Down $5+ yesterday; 50% of stock is short. Institutions own 81%(and have been buying); insiders 33%; float 27M. Price has been creeping up penny by penny, stabilizing, then up a little more. Once shorts feel pressured enough to cover, there's going to be an upward explosion here.
Posted by Chicoman on :
Way too risky here....the company is restating earnings and investigating what they call suspicious sales. This is a HUGE, HUGE RED FLAG...especially seeing other companies in years past have similar problems such as Enron and WorldCom to name a few. Also since this news broke First Albany has ceased coverage on the stock and they we're one of their biggest backers of this stock it says alot. I'd expect any concious investor to jump off this ship and take a wait and see approach....too many other companies have gone down in flames in similar instances.
BTW 2 Class action lawsuits filed this morning against this stock today should definately hurt this stock in addition to the recent bad news. Too much negative stuff surrounding this one for my liking....G'luck with it tho
