MAMA – Accumulate Short Position

By: ispeculatornew
Date posted: 01.11.2007 (12:00 am) | Write a Comment  (0 Comments)

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MAMA – Mamma.com Inc. (Nasdaq) (Closing Price – $5.90)

I would continue holding your short position in MAMA and if you are a patient investor I would recommend shorting more. MAMA may not drop immediately but eventually its share price is going to correct and reflect its fundamentals.

If you are looking for a short term gain I would not recommend shorting MAMA. There are a lot of daytraders and greater fools buying MAMA right now and they may continue to send MAMA up in spite of its ridiculous valuation. However, the momentum will die out and MAMA will assuredly drop.

I am reaffirming my short recommendation and I am going to average my other short recommendations with today’s price.

Disclosure: I am not shorting shares of MAMA.

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