Every time I predict a top, I'm wrong. There is a thread of logic which could, for a short time, raise VERI's share price from what was its stable price of 2.25-2.50 before the mix-up to higher levels. I think it's fair to assume, as Kimberly just posted, that the "confused" buyers who are going to sell for a loss have sold. That leaves investors like you and me, who are capitalizing on the confusion; long-term investors in VERI, who were there before the mix-up; and people who confused VERI for VERT but are holding VERI to recoup their losses. The second two groups, of the three, are either going to hold or buy, to average down. It is fair to assume the long-term investors would buy up to where they bought before the confusion. However, the investors who confused VERI for VERT and are holding might very well buy more to average down up to the point where they originally bought thinking it was VERT--which could be in the 3's, 4's, or even 5's.
I think 2.50 should be easily realized. However, there's a relatively good chance that the last group could drive the price higher, trying to break even. If I were them, I know I would make every effort to break even, if not profit. That's just intelligent investing. I'm just sitting back and riding along, wherever it takes us.
I also would expect the company to release more PR's, both about the mix up and about their current prospects with the internet communicator business they are in.
Finally, Impeccable says he's going to buy some more tomorrow at the bell--I don't know if that's $5 or $20000, but either way buying usually takes the price up(LOL). |
