Second Life Market Recap
On the WSE yesterday, XDT has delisted since there was no announcement posted over the past 30 days, and no one had responded why. Delicious Skins (DSE) hasn’t had an announcement since July 20th, however their VP of Public Relations has been selling small amount of stocks over the past few days, so one would hope there is some communication going on there.
Secure Hedge Fund (SHF), had negative news today on its investments. They list their NAV as .927 per share. They traded in a very wide range from .335 to .939 today alone. Volume was very light with only 650 shares changing hands today. Patient day traders might want to put in orders here.
Second Life Netherlands (SNL) announced a secondary offering. In their announcement, they spoke about disappointment that the stock is currently trading below the secondary offering price. They complain about daytraders and people selling stock at lower prices just to get rid of it. They say they are going to ask for a formal investigation and perhaps ask for a halt of trading in the stock. This does not inspire confidence in the company, and I would recommend getting out of the stock while you can. Of course this is likely to drive stock prices further down, which is not what they want to be doing, so perhaps they need to think more carefully about how markets work.
Full disclosure: On August 22nd, I bought 39 shares of SNL at L$ 2.10. I sold them five days later at $2.55. I don’t think that damaged the company. My trading style is generally that of a day trader, but trading SNL and some of the other stocks on WSE is closer to being a week trader. Today, 201 shares of SNL changed hands.
Over on the SLCapEx, Second Life Media Specialties (SLMS) was the hot stock to be watching. Yesterday, they announced a monthly profit of L$221,300. That works out to be about L$.20 per share. They climbed from trading in the L$ 2.70-2.80 range at the beginning of the day up to trades in the L$ 4-5 range. Current bidding is in the L$ 3.10- $3.20 range and is probably a good buy at that price.
Full disclosure: I have been actively trading SLMS which I continue to do.
Other stocks that some major swings were Tropical Temptations (XXX) and Second Life Electronics Company (SLTM) which had wide stock movements but no news. In volume of shares, SL CapEx (SLCX) was the most active, with a sell order for 140,000 shares outstanding.
In general news, as better reporting becomes available, as well as WSE delisting firms for not reporting, I will start paying closer attention earnings reports. Depending on RL considerations, I hope to write recaps like this with some regularity.