<< Catlady.....your recent post lost me. The point I was making is that although the PR is nice, I can't believe that it was THE factor that caused a 30% run-up in the stock. Take a look at the trading that took place in the last 30 minutes. I think that something else is going on although I can't be absolutely sure what it could be.>>
Jas, I believe there is nothing special about the 30% run-up. This stock rises AND falls like that, and 10%+ daily ranges are the norm. I believe that with the Microsoft news, someone or some institution decided to go ahead and buy a large block. That is probably why the stock went from about 9 1/8 to what, about 10 1/2 a few days ago. MMs got stuck trying to meet sudden large supply demands on a thin stock, and gapped it up intraday. Some follow through the next morning, then onto another selloff at a large percentage off the high. There were also a TON of daytraders on the stock that day.
I took the opportunity on the latest rise to lighten my load considerably from this poor performer, at a loss. I'm just tired of holding out for better on a large position. Eventually, I think we will see some sort of significant rise, that could come any time. Poorly, this stock seldom can hold a gain, which forces longer term intentions into trading ones.
I kept 1200 shares, sold off 2100. Actually, regretting not selling more up there.
I called company IR on Friday. In quiet period, and no comments on anything financial. No word of any further progress on IPO of their search engine.
My advise with this stock...be fast getting in and out, and don't overstay your brief welcome.
Jeff |
