wealth_bakery

EXRO.V - Overreaction to short report. Likely bounce.

Long
wealth_bakery Updated   
TSXV:EXRO   None
Oversold in what is overreaction to short report. Insiders are buying.
Comment:
Stock is now halted and is not likely to trade today. I am guessing the company is preparing a proper rebuttal. Mariner Research (authors of the short report posted on Seeking Alpha) could be in legal trouble due to lack of proper disclaimer.
Meanwhile, more insider buys have been posted on SEDI. A total of $46,269 worth of stock was bought by management on today's dip (so far) as a rebuttal in itself to the short thesis. Grab your popcorn!
Comment:
A closer look at the short seller behind the report, Mariner Research Group, shows that they're going to great lengths to hide their identity:
- hastily thrown together WordPress website with no information on any individuals behind the group
- no telephone or physical address
- no privacy policy
- domain records hide true owner using a service based in Bahamas
Their past record is horrendous with 90% of the stocks they went short on multi-bagging since then (GPV, BEEM, IBIO are some examples).
In other words, when it unhalts, the only way for sp to go is up, in my humble opinion.
Comment:
Also worth noting that the company has raised $42M at $3.25 in a public offering back in December. It is another reason why I and my Premium Subscribers loaded the boat when it dipped below $3.
Trade closed: target reached
Comment:
BOOM! That's it. That's the comment. :)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.