Made quite a bit over the past year shorting VYYO...basically they are a broadband services provider fronted by a guy with questionable business practices. Their cash burn rate is about 7 mil a quarter with revenues under 1 mil/Q. I have to warn you tho, they are very thinly traded and right at about the 5 PPS, so depending on your broker, you may not be able to short this guy. I shorted it this summer at about 7.25 and rode it down to 4.7 in the span of about 2 months I think. Crappy company, can't believe the PPS is where it is now.
VYYO looks to be a total POS. I see they got a couple of upgrades to buy on Nov. 28 and Dec. 5. Check out the comments: "Needham & Co. analyst Anton Wahlman upgraded the company to "Buy" from "Hold" with a $10 price target, calling the company a "major gamble" as cable TV operators face increasing pressure from competitive carriers, most importantly telecommunications companies such as Verizon, to offer more high-definition TV programming in residential markets." Of course he goes on and attempts to give some praise as well, but when was the last time you saw an analyst upgrade a stock and call it a "major gamble?"
It appears Schwab will let me short this, at least with a market order. VYYO is going on my list.
Thanks yellowman.
It appears Schwab will let me short this, at least with a market order. VYYO is going on my list.
Thanks yellowman.
