Any news on FNET
I bought FNET a couple of months ago at $1.195, so I'm happy today. It's up almost 200% today. But i'm a little weary. I can't find any news as to why it shot up, and to be honest it makes no sense.
I recommended FNET in a post a month or so ago. I can't find it right now, but I'll keep looking. I remember saying that I had FNET, SYMX, and CEP just added to my portfolio.
But here's the thing, a couple days ago I had a chance to go over their latest financial statement and their balance sheet had deteriorated badly. I pegged down my target price for them from about $5 to $2.50. So I feel like this is just dumb luck. If you followed my advice, and I don't know why you would, you might be liking me right now, but I didn't have anything to do with us.
I'm happy because I made a boat load of money today. (Not bad for a guy accused of being a perma-bear). But I'm tempered by the fact that I don't know what I'm doing. I just thought they were undervalued. Now I don't know, but until I find out why they shot up, I'm going to sit tight.
Any help would be appreciated. A quick search of the Net showed no news. I'll keep digging.
David in Qatar