With the stock down more than 20% today, and some of you still in the stock (unfortunately), I did a little sniffing around.
Apparently two quant funds blew out over 1 million shares today, indiscriminately. Meaning: someone needed to get out, no matter what.
My sources, who speak with management, insist that everything is all good.
Bottom line: I’m not buying the stock because of my written in stone game plan, which is to go long 2nd half of 2008. Plus anyway, I’m bearish as a bear in a bear cave eating bear food.
However, it’s worth noting, people tell me “it’s a screaming buy.”
You’re welcome.
UPDATE: Look for the company to unveil its embedded version of the Picop in February.
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Did Hillary just say on CNBC that she likes burnt toast?
I’m listening to Hill-Billy on Bloomberg. This is going to get good listening to these jag offs try to imitate Kudlow. They know nothing!
Fly 2008!
Investment Glossary
Screaming buy – a term used by brokers to describe a stock where anyone who has bought it in the last 6 months screams whenever they so much as see the ticker symbol. [see also: Knife, falling and Lows, lower]
They probably had to sell to cover losses elsewhere.
Fly,
Thank you very much.
kd
Two quant funds have to destroy a little $3 number to get liquidity? Fascinating.
$3 is the new $100.
All stocks that get to $80, go to $3.
Funds are closing up shop in this market.
In spite of my comments above, I bought small amounts down here.
The problem with MVIS is that they look very much like a lot of other little technology stocks I’ve observed in the past that are headed for $0.00.
The distinguishing feature is a product/technology that sounds very exciting, but doesn’t really seem to be turning the heads of the target partners. Instead of seeing cellphone or consumer electronics companies taking equity interests and buying licences, we get vague press releases with no dollar amounts and a lot of cheery text that amounts to something like “big company X has agreed to look at our prototype”.
So, I’m acting against my instincts here. What keeps me in is (1) not putting much money at risk, and (2) they actually seem reasonably competent at the engineering – they haven’t just repackaged something that already existed. What they’ve accomplished appears to be something that was not easy to do.
I’m just not confident that it is valuable.
Those POS funds with their Tradebots are part of the problem and will go the way of program trading that was “portfolio insurance” just before the 1987 crash.
Fly,
Thx.
Fly–it’s stuff like that those shows you really care—seriously, thanks.
Now we know The Fly runs two quant funds.
No one has mentioned the 3M Pico LED projector unveiled at CES and the effect it may be having on MVIS – is that not valid?
Thanks
Fly — thanks