Last week, VUZIX announced compatibility of their Augmented reality technology(glasses) with COVID detection. The stock moved significantly higher on close to 20mm shares on Thursday and Friday-normal volume is few hundred thousand shares at most. Each day the swings in the stock price were very significant. VUZIX has been on the Reg Sho list many times(indicating fails to deliver) and has a huge naked short and reported short in the stock.
They reported their 1st Qtr this am and have their conference call at 8:30 this am. This was one of my largest positions for my clients who got killed due to naked shorts, as well as selling same day as registered offerings, etc.
Guaranteed the naked shorts kept this stock from going much higher last week and will continue to do so. Once they get in a stock, the naked shorts are relentless.
BTW-now I know why the stock backed up from $3.00 on Friday-they were allocating the deal at $2.25 and the buyers were selling it in advance-remember my discussion about selling deals before announced to the public.
here it is first hand
UPDATE:
No warrants??? No problem!!! SEG continues to help companies and investors close deals. Let us know if you need anything and stay safe! The SEG Team
seg@theseg.com
