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August 22, 2007

How to Rescue Your Penny Stock Ass if You Are VerticalNet ? An 8 for 1 Reverse Stock Split

posted by MR WAVETHEORY at 8/22/2007 11:08:00 AM
I was reading the stock tables of the Wall Street Journal today and noticed yesterday's top gainers included VerticalNet, Inc. (Nasdaq VERTD - the D stands for delinquent!) - the sorry erstwhile B2B, ecommerce, electronic trading exchange, dot com blowup. That's what got me looking how this sorry ass of an answer to dotcom investing could have gone up over $.60 to $3.30 for a gain of 20%.

This dotcom horror story was trading close to $.30 (yes, that's 30 cents before the 8 for 1 reverse stock split on August 15, 2007. It was really that bad that it needed a 8 for 1. reverse. The hooligans at VerticalNet and their sorry asses were about to be booted from Nasdaq when they finally pulled the window washing trick. If you can't read the vertical axis on the stock chart above, it's because the stock has ridden all the way down from $81,076.80 down to $.30 in the span of 8 years pulling a reverse Warren Buffett for shortsellers worldwide. You really need some talent to pull that off. Hats off to you VerticalNet!

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