Patrick's Rants



3/30/2011

It’s Piling On

Filed under: Money,Stocks — site admin @ 5:51 pm

Three attorney firms have announced they are “investigating” claims brought to light on SeekingAlpha: Rosen, Kahn Swick & Foti, LLC and Bernstein Liebhard LLP

These guys are the ones who might recover any losses from shareholders through a class action suit. This is way faster than anything on the DEER front. Makes one wonder if there is something to the claims after all.

I don’t know the writer of the story, but I just rode a mini flash crash today. 40% is a pretty hefty hit, maybe too much to be realistic yet. It will be interesting to watch – and maybe just a bit painful. If you had been watching this stock today you could have grabbed it below $2.00 per share and rode it up to $2.15 for a tidy profit. If you had shorted at the opening bell, you would have even more. SeekingAlpha is definitely influential, and at least for today (even if it is a self-fulfilling prophecy) they were right to be short.

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