XpresSpa Group Inc (XSPA)

[postyle]

Sab,

I am inclined to agree with you that IF (and it's a big "if") the Federal Circuit accepts to hear this case en banc, that VRNG has a very good shot at overturning the reversal.

But the problem lies with getting the court to both vote on an en banc hearing and then accepting to hear the case. Statistically, the odds are not in VRNG's favor. I think it's not likely to happen that CAFC will hear this en banc. But it is still possible.

Perhaps VRNG's petition will be amazing and will convince the court. Maybe not, it's impossible for me to speculate what it will be. There have been only a handful of en banc requests granted in the last few years, and even though the Federal Circuit has been taking on more en banc hearings in recent years, the percentage is still somewhere far below 1%.

So I wouldn't want to be gambling on this specific outcome. There are plenty of reasons why VRNG could recover going forward (ZTE, ASUS, this CAFC case, etc.), but time is a key element. VRNG will submit a petition within the next week or so. It will then probably take a month for a decision on the en banc request. And even if granted, an en banc hearing is likely to take around a year for a decision (Judge Newman will assure to that with her slow writing style - LOL!).

I think we are seeing with the price bounce off the lows to somewhere in the mid $1.3X's earlier today that the sell-over was overdone. But I still think there is a good chance of a wash out over the next month or two without the type of positive news/events VRNG needs to stay above the water.

As always, IMHO.