Ashraf Eassa
Long/short equity, contrarian, independent research, tech

Velti: Next Stop, $0

Back in March, when shares of Velti (VELT) sunk to then fresh, new lows in the $2 range, I made the following comment on a StockTalk thread,

Fast forwarding to today, and we see that the shares now trade at a mere $0.34/share, or an 83% loss after doing precisely what I had predicted. I believe that investors should avoid the temptation to speculate on this name, particularly as it is highly probable that Velti's common stock holders will be entirely wiped out within the next 3-6 months. The business is in such dire shape that even short term speculation betting on a near-term short covering rally is unlikely, particularly as it is not likely that the...

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