For years now, whenever any company technology or otherwise goes zipping up from nothing to something, the short selling crowd call it “the latest INT.”
With good reason. Intertainment –[stock_quote symbol=”INT.V” show=”name”]– flew up from $0.11 to over $2 from late January to early April 2011. Then it flew back down again just as quickly, and slowly deflated to $0.02 over most of 2014.
But, recently, movement came back to the stock. Volume!
On March 25 of this year, it jumped from $0.02 to $0.05 with 18m shares traded. The following day saw more volume and it hit $0.06 on, appropriately enough, April Fools Day.
My excellent tech colleague Gaalen Engen jumped on the story and offered management a chance to get some free press – if they’d subject themselves to some hard questions surrounding the earlier weirdness.
The CEO put it off, made excuses, then flat out refused to address anything to do with anything that may be perceived as a negative question.
Lessons learned: When your company is a punchline used by traders across Canada, marketing 101 says you come out and own the story. Intertainment, instead, hid from it, hoping nobody would remember the old days.
Today, the stock sits at $0.03-$0.035, with the bubble having burst.
V.INT remains a punchline.
DISCLOSURES: The author does not own V.INT, has never owned V.INT, and will never own V.INT.