Are you adding to your position? It looks like today will be another tough day for the market, so we may be able to pick up more in the low to mid $7s. If it gets there, I'm buying (again).
Two things that encourage me are -
1) The great rebound in the share price from $6 to $8, greater than the overall market rebound on Monday. The other stock I've been watching that rebounded much greater than the market on Monday was CheckFree (CKFR), and yesterday, they announced a HUGE deal with Integrion for a 10 year alliance. Stock went from $26 to $30 during the day, which I still think is extremely undervalued given the potential of this deal. But, suffice it to say that they have a great long term future.
2) The deals that VLNC has put together with Alliant and the Military. If Valence wasn't close to mass production, then I wouldn't think that the Military would deal with them. Afterall, the military requirements for procurement are excrutiating.
Valence also receives quite a bit of MM coverage, even though there is no one officially covering the stock. This indicates to me that a momentum move is very likely when VLNC announces a deal.
Good luck, and again, thanks for your comments. |
