As mentioned a couple months ago.... the next several month may get very interesting. Let's look at what has developed:
1. Orchestrated Beatles Tape battle is forging ahead. Right now the company has defended their position that the tapes are Fuego's legal property and the company has the right to market and merchandise the contents. We are waiting for Apple Corp's response, for which they have filed an extemnsion.
2. A suspected shorter has evidently stopped the ruthless selling that was going on prior to the beginning of the year. Legal action has been taken to take back the restricted shares that the shorter has been illegally selling. If successful, the company will have killed 2 birds with one stone in that the seller is gone and a large unresolved short will remain. (The mechanics of shorting against restricted shares is covered in detail in prior posts.)
3. Most recent revenue numbers blew away all past performance and they are just getting warmed up.
Watching the tape over the last few weeks leads me to believe that a moderate amount of buying will move the price of FUGO very easily and quickly pressure the short position into a defensive posture.
Also, the company has been achieving all of its goals in terms of its business plan and they are eager to share their progress with the shareholders. I think they are just waiting until there is a final resolution of legal issues pertaining to the suspected shorter. They have put out substantial news in the past to just see the share price fizzle as the seller dumped shares on everyone.
The clock is ticking and very soon Fuego shareholders will bear the fruits of their patience.
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