Company is evaluating whether or not they can continue as a going concern within one year.
Co will be reporting material asset impairment charges relating to its goodwill and trade name.
That is the reason for the drop, not shorters, you can no longer short this stock with any reputable broker as the price is too low.
Company generates like $70 mln in rev every 3 months so yes, it is undervalued but there is bankruptcy risk due to the equity cure and the ongoing agreement with Bank of America.
VNCE good luck to all, looks like a few deep pockets are loading today.
Float 20 mln.
short interest is 28% of the float.
Anything positive even remotely in that next annual report and BOOM goes the dynamite for this puppy. $2.10 and beyond easy imo.
Sincerely,
Equity Analyst
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