Wanderport Corp (WDRP)

[scmfinance]

THIS IS QUITE SIMPLE TO UNDERSTAND

If you were watching the level 2s yesterday, you would have noticed that the large drop was due to one person unloading a couple hundred thousand shares.

While it was in the mid-.04s yesterday, someone set a limit order to sell their shares with a bottom of .04. Their order went thru knocking the bid each time with a few thousand shares at a time until it knocked out .04. The way the L2 moved, it looked to be one order from one small holder with a limit set who wanted out. After that, a few others panicked to drop it to the low .03s and then more people started buying in the .03s to bring it where we are today.

Obviously, some other people have been cutting losses (or locking in profits) at this level and others have been buying. Maybe it drops a little more, but ultimately, it seems there are quite a few people who are long and supporting the stock. Plus, without dilution from the company, there is not the typical downward pressure on the stock that is seen with so many other penny stocks.

The good and bad is we have seen with the relatively low float (as most shares seemed to be locked up with longs) that the stock moves up and down quite rapidly on little volume. The fact that there are not many market makers dealing the stock also contributes to the rapid movements.

Whether to invest or not is a relatively simple decision in my mind -- you either believe the company will release the prototype soon or you do not. That's really the only question you have to ask yourself. The release of the prototype should contribute to a healthy rise in the PPS and speculation on the company generating revenues from that point should further help raise the PPS going forward from that point. If you do not believe the prototype will be completed, then you should probably cut your losses or lock in your gains.

The delays have certainly been frustrating, especially for those who have been in for longer than I have. But, I have seen this from nearly every company developing a new product (IPhone, IPad, etc.). And ultimately, the product is released and the reward comes to those who were patient enough to stick with it. The information released by the company so far would suggest they are making progress, and I would expect to hear about the prototype relatively soon.