We are short on Identive Group (INVE) from $5.84.
We are sitting on 41.42% profit in three days on Identive Group (INVE). This amounts to 5040% profit on an annualized basis. It is always best to think in terms of annualized profits.
Interestingly, several news services gave me credit for the rapid fall in the stock. Here is a clipping from one news service giving my article in Seeking Alpha credit for the fall:
News Breaks
April 13, 2011
12:00 EDT INVE theflyonthewall.com: Identive Group falls 28.8%
Identive Group is down 28.8%, or $1.64, to $4.05 :theflyonthewall.com10:02 EDT INVE theflyonthewall.com: Identive Group deal with Google misunderstood, Seeking Alpha says
Identive Group (INVE) jumped yesterday after announcing that it was selected to be the exclusive supplier of NFC RFID stickers for Google (GOOG) in Austin, Texas, Seeking Alpha columnist Nigam Arora said. Many people on the Street ignored that the deal- under which Identive will will supply tags that can interface with cell phones to store owners – is only restricted to Austin, and isn’t a nationwide deal, the columnist claims. Identive’s deal is only worth $400, and the company faces a great deal of competition in the RFID space, said Arora. Identive’s stock is retreating today based on Arora’s column.
We will close the position here right at $3.38.
