Posts Tagged "short sell"

The drybulk microcap mania continues today! Almost virtually bankrupt Globus Maritime ($GLBS stock) ascended +129% today on no relevant news today. Before the market opened, $GLBS filed a 6-K regarding a possible shelf offering so a run-up in stock price today was just plain idiotic. We took this opportunity to initiate an extremely cautious tiny short position in the name (as you never know how high these microturds will fly) and...

This is the third time we took a short position in $OceanPowerTechnologies ($OPTT stock) since June. Once again clueless long chasers, sheep who cannot read nor understand a financial balance sheet, ripped this stock up to stratospheric levels making it a prime target for a short swing trade. We started shorting OPTT in the $10s and kept adding to the position as high as the $15s. Why add to a losing position most of you will ask?...

Nanocap stock $HMNY (Helios and Matheson Analytics) released news regarding their acquisition of privately held software company Zone Technologies on Tuesday June 7th with no deal terms disclosed. In other words if you read in between the lines, the company was bought dirt cheap and probably has worthless products. Note that $HMNY received a NASDAQ notice of delisting or failure to satisfy a continued listing rule or standard in...

Microturd stock Erickson Incorporated ($EAC stock) today released one of the most uselsss press releases ever. They announced the award of 2 contracts worth $70M over 5 years = $15M / year, while already having annual revenues of $278M last year. The contracts were also awarded in February. The company stated an excuse why the new contracts were announced so late but really it's because they have no significant upcoming catalysts to...

Today Atlas Air Worldwide ($AAWW stock) announced a partnership with Amazon to provide air transport services. News of this possible pact came out last December so it wasn't a total surprise. The stock opened around $51 and para-spiked to a high of $57.77 in the first 5 minutes of trading! We immediately placed market orders to short $AAWW because the +51% upside move today was completely unwarranted. The pact was supposed to be...