This is a trip (via Briefing.com):
07:11 MAMA Mamma.com: Mark Cuban discloses no longer owns MAMA shares (11.82 )
In a filing with the SEC, Mark Cuban disclosed a 0% stake in MAMA stock. Recall that stock found interest earlier in the year on news that Cuban had acquired 600,000 shares of MAMA stock. Moreover, on April 6, Cuban told the WSJ that he hadn’t sold a share of the stock after a probe into trading of the stock was disclosed: “The company isn’t under investigation, the trading activity is. The SEC should investigate “Day Traders Gone Wild.” I only care about the operations of the company, and those are not under investigation. I haven’t sold a share of the stock and don’t plan to.”
I had a real nice short of MAMA going back in early March which I had to exit, still with decent gains, because of the second pop MAMA got off of that Mark Cuban investment news. For the life of me I couldn’t understand why he would buy into a no-name search engine. Nevertheless, I got the hell out with a quickness. And now he exits just as quickly as he got in. Things should get interesting in MAMA now. Too bad there are no shares available to short at my broker.
