"After Ironridge acquires stock, it treats it as a long investment,
with an eye toward buying low and selling high, Kirkland said.
“We’re like any long shareholders. We’ll hold or sell depending
on whether we think we should own it or sell it and buy Apple
instead.
“The goal is to invest for the long term. We always sell some, but
we rarely sell all. We try to break even on every transaction and
hit a grand slam every now and then."
If they were the root cause of Friday's smash-up, I think they need to rewrite their "objectives". 150 mil shares sold at about .10 ave is $15,000,000. What was the original loan?
NEWL on the other hand was either nuts or simply desperate to borrow anything from these guys. Ships look nice but the pilot needs to change course.
"Thoughts become deeds, choose the good ones"
