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I am of the opinion that there is a decent sized short in the company's shares now.
The company did not make any fanfare about the appeal date and thus it would be normal for someone to short it thinking that this like other times, was just a blip.
Positive News could cause the stock price to spike and to bring in buyers.
That may force the shorts to cover at a higher price.
Hmmm .... let's see what Monday and Tuesday brings.
I feel like Prism shouldn't have hacked on an attempt to receive more.
My opinion is that the appeal court will likely affirm the judgment of the lower court.
Sprint took the risk in taking this case to trial instead of settling and since the amount doesn't appear to be unreasonable (given what was said during the appeal and other cases) it's unlikely it will be turned over.
They didn't prove overbearing bias by the lower court. At least not to me.
I also doubt that they will let Prism receive more in damages.
Again, they let the case go to trial .... you can't just say "I want more" after the trial.
The judicial system doesn't want to spend time trying a trial and re-trying it until everyone is happy or one party is bankrupt.
FYI:
http://patentlyo.com/patent/2013/02/waiting-for-federal-circuit-decisions.html
It should be noted that the court of appeals website says "180 Days"
Update: still nothing posted in Opinions and Orders.
Probably Tuesday. Hopefully.
I am a little free tonight.
You can compare the cases from this:
http://www.cafc.uscourts.gov/opinions-orders
And compare with when the case was argued here:
http://www.cafc.uscourts.gov/oral-argument-recordings
Seems like an answer/opinion can come a few days after the oral argument.
Of course, it could take longer.
Seems like Sprint's basis for appeal is that the amount was too high.
I had a slight feeling like the judges felt Sprint COULD HAVE SETTLED. But they took their chances and went to trial.
They didn't like the result .... they may have settled for less .... but they didn't want to pay what they were told to.
So, should you get a new trial if you don't like the result?
What a strange trading day.
Good opportunity to buy flippers.
That's trading.
Read my past posts here to see what I think of outcome.
I am surprised this wasn't halted with 100% move.
You can see someone is trying to hit stops and it seems to work.
I have traded it a couple of times today and I am riding freebies now.
If they flush it again (with no news) I may have take another ride.
Where did this December 8 date for expected news come from?
I don't see it in any of the filings.
As predicted, more short covering and some longs bailed out.
Today is proof that shorts are definitely in control.
Seems like we might see a ridiculous high order and then downward all day after.
Again, that's just short covering.
Could be different with some news, but premarket looks the same as the last time that happened.
As I previously said, short covering a few cents up and then they let it drift.
This is intended to get people to sell or at least put an order to sell that will get hit.
It's about what the value of the acquisition could be worth to buyers.
It was a manufactured dip.
A lot of people have held their shares and were likely looking for a pop.
Shorts smothered it and longs bailed.
Shorts don't have to do a lot of selling. They just stuff the ask forcing people who want out to sell into the bid.
They don't have to hit the bid, longs will do it.
I am still of the opinion that someone maybe making an offer for the company sooner than later.
The company can do things such that it looks like they aren't interested in selling when the reality is different.
Shorts in control.
If they see enough Muppet orders maybe we see $0.55
If not, they will just let this drift.
May be dangerous as people may start to believe over the weekend.
If that happens expect another hit piece.
Maybe we will see how CYTR is basically a modern-day Hitler!
Stay classy shorts.
Just like I said, shorts covering causing the price to go up $.03-.05
Cleaning out queued orders.
Shorts would really like people to sell instead of waiting for an offer to be announced.
Shorts keeping this red hoping to scare more longs into selling.
Yesterday's close was purposeful to make today's $0.48ish look red.
Can't dip it further because too many buyers are out there.
We should see a $0.03-0.05 jump soon as shorts take out orders to cover.
If news with contracts come, $3 should be easy to get.
After hours spread has tightened.
Oil looks to be strengthening.
And it's December!
All of these make RCON look like a good one to trade.
Big volume yesterday. We shall see if it leads to something good.
How was yesterday's release deceitful?
Ok, what's the negative catalyst?
I see shorting.
They sit on the ask and when someone sells down they move their order.
They don't hit the bid, but they influence weak hands to sell.
Well, I picked up some shares here.
Trading tells me that someone wants to scare the crap out of current and potential longs.
I don't see the negative catalyst.
Careful as always.
Nova Chemicals.
The stock had it's head kicked in just like Cytrx and was bought out.
Of course, debtholders could have taken over there.
But still, similar. Bottom fell out and someone scooped them up for a low price.
The spikes were someone buying in.
People who bought in here for $0.40ish will sell it from $0.70s-$0.50s still profit for them.
Unlikely to go $10 unless a bid war was to erupt.
The last time I saw action like yesterday, the company was bought out.
November 14 filing suggests that may happen.
Unfortunately, it is unlikely to be as high as some want.
The buyer would also like to make money on whatever they buy.
Still, $3-4.00 may be in play (on the higher end, $2 on the low end).
People who bought in $0.40-0.60 would take it while longs from when the stock was $2+ may also take it to be rid of it.
Anyways, just spitballing here.
Did he tell you November 25th soon?
Because they put out a PR that clearly said that date.
Maybe the CEO has a time machine and will go and file it.
Seems like a good use of a time machine.
I still like this stock.
The problem is that the company seems stubborn to sell itself off.
This limits the upside as there is little chance that someone will buy-out shareholders.
Anyone can do a quick analysis and see this trades far under book value.
I was hoping for some kind of significant dividend, but it seems that management is content to just run this.
It's disappointing, but there is still opportunity here.
It's just not immediate and the price may fade.
Not the most interesting stock, but I will still keep an eye on it.
As always, never put all your money into one trade.
The spread after hours is ridiculous and demonstrates how they want to trick sellers to give in.
As always, never put all your money into one trade as you never know what will happen.
I am just saying that there is quite a bit of proof that their is a short on the stock.
News that brings in buyers will force the short seller to cover.
Or as I mentioned in SINO, they will try and bring it down via false articles that come out right at a spike.
Low volume stocks are easy to manipulate into a box.
We shall see if the company gives people a reason to buy.
If you take a look at the chart, it looks purposely bad.
As if someone wants us to sell.
So, news will bring buyers and confidence to overcome the shorting algorithm.
The problem is the filings.
The Friday date was a bit suspect, but we have to give them a couple of days to rectify it.
People are willing to believe.
But if there is no filings, people will back off and this fades.
With Thanksgiving over, let's see if the company has anything to tell us.
Yeah, the date was suspect.
Maybe this was all about getting people in and stuck on Wednesday?
Hopefully we hear something on Monday/Tuesday.
For now, it's pretty much dead money.
Does VFIN have anything or fishing for sellers?
0.0115 Bid.
An awareness campaign would be wonderful here.
Maybe that's who was buying up shares.
You sound like you are waiting to buy-in cheap.
Right now Twits is infested with people who wanted 80% off.
Maybe you would feel at home there?
Well, I wasn't so right yesterday with it looking like the bottom.
The wide spread today looks decent enough.
Pretty sure that most will just hold now (that is not sell below $0.70).
Of course, shorts still going to fish for those willing to sell at lows.
If it's true, a market cap of $50 Million may not be out of the question.
What's strange is that there is no organized effort behind this yet.
Usually these get preloaded.
Quite an interesting opportunity.
The Annual report will show $5 Million in profit?
If that's true, $0.01 is a gift.
Almost too good.
It seems to me that the company has tried to change gears and become a private label manufacturer instead of doing something by itself.
The failure should not have been unexpected.
I would argue that they are better off as they can focus their efforts instead of trying to do everything.
Maybe it's less sexy, but sometimes life is not all fun and games.
Financials from September 30 suggests that the company had $10 Million Cash or $0.38 per share.
Net assets were about $0.66 per share.
If the company were to announce some strategic partnership or distribution deal, it's easy to see that the current price ($0.735) is quite fair.