This stock has done exactly what it should do from a technical stand point. Remember all those stocks that were sold on the recent run up had to be bought back at a lower price. Thats the way market makers work. They do not trade on news or pending mergers etc... Remember, for every share they sell at a higher price they will buy back at a lower price. They make their money in the spread. This is the type of stock you cannot get caught up in green/red every day. (If you are long) As has been said here many times there are two important events coming up (although I think the earnings is important also):
1, Merger 2. Litigation. I have only been in the stock a month because it came up on my screener, based on criteria I set. However, I decided to just stay long and see how this plays out. Remember, I believe the price of the merger is already factored in to the price around $3.10. Can't really say until all numbers are released from both companies. (Markets will do that in about .5 seconds). The increase will be based on stock issued to Lexington execs, Hudson Bay etc.. and what the settlement amount is. I am very new to analyzing this IP sector. I will say it is like the wild west for sure. I believe you can make money short term and long term. Never invest based on news, hype or lack of fundamentals. Now I have absolutely no idea how this will all play out and I enjoy this board since it is devoid of P&Ders. Once again, I believe this stock is exactly where it is supposed to be from a technical stand point today.
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