Snackman I was bidding $1.40 at about 12:45 ET and offer moved up, I raised my bid to $1.41 and never got filled before market closed at 1:00ET. I would of loved those $1.36 shares!! Enjoy the holidays. Wavxmaster
i wouldn't be that "someone" though b/c the risk/reward parameters don't justify speculating IMO.
the "benefit of the doubt" leeway that previously existed is gone for me. simply cannot rationalize myself into buying wavx (& think it'll get cheaper anyway, which is sorta beside the point).
the mgmt of this company has done things behind the scenes like Founders' Shares that S/Hs didn't find out about until months later & that makes the caveat emptor here too much for me. it could all end horribly w/a trading halt & an open below $1.
of course, it's still possible that mgmt could be completely exonerated & it rallies back to $1.80. but even then there are still going to be 7M shares overhanging the bid & sub $2 prices are on the horizon well into the forseeable future.
i don't wanna be on the wrong side of this if it goes bad b/c a 50% haircut remains far more possible than a 100% rally IMO.
too much risk & not nearly enough reward.
i'll wait for the dust to settle & re-evaluate when the SEC finishes its inquiry. if mgmt is completely exonerated, i'll miss a little bit of the upside, but i'll also be insulated from having my capital cut in half.
as it stands, i have no intention whatsoever of owning wavx. the sidelines is the safest place right now & maybe things will change enough for me to reconsider, but for now it's a broken stock w/a ton of shares on the sell side (whenever they do get registered) & a serious stigma that will take a great deal of good news to mitigate.
best of luck to those of you doing all the heavy lifting of holding -- it takes some serious guts & if your collective trust is warranted, you'll be appropriately rewarded.
if not, well, it'll be an absolute bloodbath & CNBC will be sure to broadcast it worldwide.
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