Their is no reason not to bid sit here currently. Someone is panic selling hundreds of thousands of shares it seems every week. IDK maybe its stock options exercising. But that would only be a couple of million shares in total and this has been going on for a while it seems like now.
Until that random seller proves they are gone. LUVU stock price is not going higher.
Maybe the virtual presentation on Monday will help a little showing how god damn undervalued the company is.
I was right should of had a bid in the low 0.07s yesterday...... my yearly car insurance bill came up..... so was not able to do it this week.
But don't worry we will hit the low 0.06s range next week.....................
I will continue to add every week on this selling though
My personal opinion . No one knew about this stock Pre Covid.
It was an extremely illiquid stock with flat line Rev's and basically a break even or slightly losing money company in the 5 years prior.
Luvu got pumped up way beyond its value and marketed as a Covid PPE play among the internet community.
LUVU has lost its hype and by looking at the chart it has been left for dead.
The thing is, if you exclude the PPE now LUVU business is actually growing at record numbers and their products are in the perfect market to take advantage of the shift from working in the office to working in the home.
But traders don't find that aspect "sexy" pun intended
With covid cases rising i could see this pop to 30 cents if they get another government contract. although it would have no material long term implications for the company
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