holy crap, it got pounded today, based on some reports from "Citron Research". Not sure how factual they are. Anyone have any info?
Follow-up: Emcore business 'built on foundation of illusions'-CitronResearch.com According to Citron Research, Emcore (EMKR), which consists of its fiber optics, space solar and solar energy units, has 'deceived the public' about both their customer's ability to fulfill alleged orders as well as the quality of their customers. The firm, which contends Emcore spends more than it takes in, says Emcore's Gallium Arsenide technology is cost effective in space, but is 'also really toxic'. As for the company's customers, Citron says Emcore has 'strung together a group of sham deals to make it appear to be a player' in the terrestrial solar business. Citron believes Emcore should 'record more revenue than expenses'.
Sham deals?? Sounds like an American company alright! You have to be psychotic to invest in shit like this, I reckon.
Emkr had a bear raid because some individual that runs made up reports at citronresearch.com. If you do some research the guy that runs the website has been involved in many legal issues and has had many run-ins with the law.
That's what I thought... he's a known artist for that kind of crap. Was pretty abnormal volume though and it took a beatdown today. I think stoney was in this stock, i'm waiting to hear what he has to say...
EMKR just released a PR in regards to the short selling that this scam website put out. http://biz.yahoo.com/prnews/080318/nytu151.html?.v=101
Don't think it will do much. The question is, how much more downside before this puppy recovers.... debating loading up.