The only thing we know is someone is selling. I personally don't believe it is mgmnt, but who knows. It could be storm, it could be Cheche, heck it could be me!
(it is not me, I will probably be the last guy out the door turning the lights out)
Regardless, There are plenty of people like us who accumulated sizable positions over the last couple years that may be just fed up. I do think we are at a good time again when revenues are starting to catch up with the promises, but honest enough to know it has been a pretty tough ride.
There has always seemingly been "just enough" good news to keep a shareholder with hope....
Remember when the media fly deal was announced....sounded good. Remember when the "app transcendence" was cutting edge....sounded good. Remember when they were going to start their own app store....sounded good. Remember the deal with the travel app company.....sounded good. Remember the Facebook nonsense....sounded good. Remember Sony....sounded REAL good.
Now we are on the hook for a movie app, push notifications, an unnamed media content "partnership", and a gov prison contract!
Don't get me wrong, I think MRNJ is still worthwhile for the long term. But I certainly understand why a long term shareholder w/ a huge # of shares could decide they have had enough. It would be tough for any of us to get out quickly right now, just not enough volume.
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