Seeking Alpha

VirnetX closes up 6.8% following annual meeting

  • SA author Tom Shaughnessy, who attended VirnetX's (VHC +6.8%) annual meeting, likes what he heard during a presentation by CTO Robert Short about the company's Gabriel secure connection tech.
  • Shaughnessy notes Gabriel has "ballooned into a full suite of products encompassing chat, web, share, video, voice, mail and sync capabilities," and sees plenty of potential business/consumer use cases.
  • He also notes VirnetX is trying to end the use of "reverse conversions and naked shorting using the market maker's exemption" by traders by tracking the activity and reporting it to compliance departments. 40% of the float was shorted as of April 30.
Comments (2)
  • Chinabob
    , contributor
    Comments (32) | Send Message
     
    Good recap of the Annual Stockholders Meeting. Exciting revelations with the Gabriel suite of products and the strong effort that is going to be made to stop the reverse conversions. In my opinion, the reverse conversions have taken at least 700 million out of the market cap if not more.
    24 May 2014, 12:43 AM Reply Like
  • Tom Shaughnessy
    , contributor
    Comments (1138) | Send Message
     
    Thank you ChinaBob.
    24 May 2014, 04:02 PM Reply Like
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