Hi, Souze --
Well, it was fun while it lasted, but we're back to trading at $0.39 preopening at the moment. Yesterday's action after the close may indeed have been partially some panic short-covering as the stock moved higher, but maybe just some good ol' fashioned buying in delayed reaction to the financing news (which received wider distribution when it hit the Dow Jones tape at 4:41E) . . . actually, the news was in the public domain after the close Monday, with a link to the financing deal posted by dr2garden on Raging Bull Monday evening. So essentially a nimble trader could have made a bunch of money yesterday if he/she caught much of the low-to-high bounce -- $0.31 to $0.48, +55% . . . not bad . . . can you imagine what the stock could do if some REALLY good news was announced???!!! :-)
In any case, the financing, albeit dilutive, gives them some more breathing room as we await additional news on OnStar, new customers, etc.
Have a great day,
ea |
