Mitek Systems, Inc. (MITK)

[Trum]

It has more to do with the USAA posturing (the folks that sued them 4+ years ago)... MITKs PPS dropped to just under $3 ( I averaged in at 3.16/share).. Those guys are once again pushing for their patent rights but this time are going after the banks instead of MITK. The lawsuit ended with neither party having to pay the other and MITK ended up dropping their counter suits...and the stock price took off from there. IMO - USAA is playing squeaky wheel, no way no how are they going to get a cent from the banks (far deeper pockets than them) and they don't really have any new intellectual rights above what they failed to win a couple years ago.

I think it has some to do with the new-short positioning, some profit taking(believe me I was tempted) and some insider dumping but we will know more about that later.

Just too many hedge funds in this one for a longer run to be scared. Plus we will certainly see 2017 numbers end up quite nice for MITK compared to year over year.

There are some rumors (most likely high hope conspiracies) about potential buyout and the game playing that could come before such a thing.... just too much legal trouble with that theory to believe it true...but who knows what type of games folks play for saving several hundred million.