I need to vent. Allow me to warn you first, that none of you are going to give a shit about this, so there is really no need to read on from here.
Alright, I dipped close to $1500 in this stock, CLRO (ClearOneCommunications).
And yesterday, the SEC (Federal Securities and Exchange Commision) filed a complaint against ClearOne.
Now basically ClearOne is going to turn into the next Enron. Because of the fact that it is not as big as Enron, you probably won't hear much about this. But let's just put things into perspective here:
The SEC files like 7 complaints all year long against companies. There are like 7,000 different stocks I could have purchased, but of course, Ugly Bastard purchases the one that the government wants to fuck with.
Well fuck me.
I bought in this stock at
$3.89. At one point, it had climbed to as high as
$5.15, and I had quite a nice profit lined up with them. But instead I though, "eh, let's just hold on to it for a while, I'm sure it could hit $10 in a few months".
Well, anywho, it started tapering off, and had comfortably settled to around
$4.00, then yesterday happened.
As you can see from
this chart, ClearOne's stock absolutely fell off of the radar after the SECs announcement.
This morning, I sold all of my CLRO at
$1.89, and ended up lossing about $1200 when all was said and done. Why sell now? Why not just wait for all this to clear? ...you might ask. Here is why: ClearOneCommunications will be bankrupt this time next week, and won't even have a symbol on NASDAQ anymore.
Fuck me right up the ass.
-Ugly Bastard