Bonehead41 claims in one of his posts that he shorted Davi Luxury Brand Group, Inc. (OTC:MDAV) at $0.90. If that was indeed the case, he made a good call. $0.90 to $0.47 represents a gain of approximately 52% for those who managed to short the stock at that price.
A significant portion of the potential gain for shorters came yesterday, when MDAV dropped 31.88% to $0.47 on 652 thousand shares.
MDAV is one of the stocks often promoted in newsletters. This increases the number of traders that know about the company. It may help to generate volume, but if the company doesn’t provide something substantial and positive, the most likely outcome is a declining price.[BANNER]
In all fairness, the company did announce a collaboration with Korean Air and Harmony. Supposedly, Korean Air will provide a Davi amenity travel bags to its passengers. However, details about the conditions and the potential gains for MDAV are not mentioned.
Until the company provides some updates about the results of operations, there is little to get excited over. Unless you happen to be one of the people who shorted the stock at the right time.
