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magicJack Vocaltec (
) closes with giant losses after Copperfield Research issues a
taking aim at the company's accounting and trustworthiness. Among other things, Copperfield accuses magicJack of overstating revenue, earnings, and cash flow in earnings releases relative to SEC filings, and of using put option trades and other questionable investments to inflate earnings. It also notes CEO Dan Borislow has been sued for securities fraud in the past, and has sold shares after using them as collateral against personal debt. (
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The Copperfield Research group (really one main short seller) prints this article to improved their short positions, and the market falls for this is incredible. I find it hard to believed it is that easy to lower a stocks value, meaning anybody with a pulse and internet access can become a research group and up and down a stock. SEC and the accused company should be allowed to sue for any false or half truths
to any report on their company to discourage this CF Research junk.
Take it to the Bank Tip:
If CALL falls below $15 I would buy as much as possible!!
Jan 10, 2013. 04:32 PM
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