Pump and dump drama may be concluding
On Tuesday April 24, NIA released their text version of NIA's brand new '2012 Enterprise Social Networking Platform Report' and stated: "Disclaimer: NIA currently owns 158,000 shares of BVSN. NIA intends to sell its shares and can sell them at any time." The stock closed that day around $30.00.
Today, May 2, they announced they own 35,000 shares of BVSN, so they must have sold 123,000 shares (77.8%) of their position during this six trading day period following their promotional report, while today announcing a new stock pick. BVSN stock hit $56 two months ago and closed today at $22.13. Presumably NIA will sell the rest of their 35,000 remaining shares shortly and that may put further downward pressure on the stock, at least in the short term. Regardless of the future performance of BVSN, one thing is certain, NIA helped early buyers of BVSN to make money while most later buyers were left holding the bag with substantial losses.
TC