We would love to short InterCloud Systems (NASDAQ:ICLD), but it appears hard to borrow (at least through the brokers I use) so this note's practical purpose is to highlight some questions and issues fellow Seeking Alpha readers who are long the stock may want to explore further. If we were long, we would drop everything and sell now but read on and decide for yourself.
InterCloud recently issued $5 million in a public stock offering at $4.00 per share and subsequently reported 3Q 2013 revenues and earnings that appear to have generated some excitement among investors. The stock soared 271% the next day from $2.55 on November 14, 2013 (the day earnings were announced after the market close)...
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