Stefan,
It appears that MRVC is heading into another one of its infamous shakeouts. As I write this note, MRVC is sitting just below, and I mean fractionally, its 20 day MA. I suspect that this weakness is coming on the heels of weakness from other networking companies, LARS BBOX and INSS, and the strength of the larger networkers. MRVC shares are likely being swapped for shares of ASND, COMS, ADPT, and CSCO. Can't say that I don't blame people for doing that over the short run, as the positive news is flowing from those companies and MRVC has ahead of it a 2.5 million share offering and no one knows the price yet, or specifically what the proceeds will go towards. MRVC may likely test $26 to $27 again, but I suspect that there is some big buyers down there. While I am not a big buyer, I will certainly add shares if we see $26 prices with no additional news.
Wayde. |
