Update: WPCS International's Sale Of Seattle Operations - My Call Was Wrong
- On August 15th WPCS International held a special shareholder meeting to vote on the sale of its Seattle Assets.
- 94% of shares the voted did so in favor, making this sale the second in weeks following the sale of WPCS' Australian operations.
- The company should raise another $1.5 million in cash.
- Shares are down 23% since my call to invest, were down 68% at one point, but still swing wildly enough to profit from news driven events.
- While I applaud the company for taking necessary measures, I believe my call to invest long-term is too risky and was simply wrong. I reject my thesis.