Patrick's Rants



4/6/2011

ABAT Charged Up

Filed under: Money,Stocks — site admin @ 7:29 am

ABAT has responded to the Variant Research posting that appeared on Seeking Alpha. In the point by point rebuttal, ABAT takes on each allegation made by the short sellers. It also appears that three law firms have filed class action suits against ABAT, although from the initial filings none appears to have acquired their “lead plaintiff”.

For its part, Seeking Alpha has posted a new damning story questioning a $20 million acquisition.

ABAT is up around 14% this morning.


Disclaimer: I still hold shares in ABAT. I have not purchased or sold shares since this story began to unfold, primarily due to having all cash previously allocated. I am still interested in “averaging down” my basis if the opportunity arises. I’m not recommending or selling any stocks.

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