NIA would like to explain what it believes caused Synacor (SYNC) to dip $1.27 today to close at $11.13 per share and why NIA believes it will quickly rebound in the days ahead. The small online stock broker that NIA has an account with apparently made up a brand new rule Monday morning that because NIA's position in SYNC was larger than SYNC's average 3 month daily volume, the broker would no longer allow NIA's account to be a margin account. NIA's account was meeting margin maintenance requirements and NIA even offered to deposit additional funds to increase its account equity to an even higher level, but the broker didn't care and without warning it went into NIA's account and sold 53,000 of NIA's SYNC shares on Monday and another 140,017 of NIA's SYNC shares on Tuesday for 193,017 shares total.
In no way did NIA want to sell a single one of these shares that its broker sold. Because NIA doesn't want a single additional share in its account to be sold, NIA today opened up a new account with a different broker and first thing tomorrow morning our old account is being transferred over. Please rest assured that NIA is not selling the rest of its SYNC position at this time. NIA never intended to sell a single one of the shares that its broker sold in the past two days. NIA considers investors who were able to accumulate SYNC on the dip today to be very lucky and NIA hopes to begin accumulating back shares tomorrow.
Stay tuned for NIA's huge update coming later tonight about everything discussed at today's Needham & Company investor presentation in New York City. NIA has a lot of positive info to report that makes us a lot more bullish on SYNC than ever before!
NIA isn't an analyst or investment advisor. Don't invest based on anything NIA says. NIA doesn't recommend for you to buy or sell any stocks. NIA never makes any financial projections or target prices.
Disclaimer: NIA currently owns 549,452 shares of SYNC. NIA initially purchased 350,000 shares at an average price of $8.53 per share. NIA has agreed to a 60 day holding period on its initial position of 350,000 shares but intends to sell these shares at some point in the future after the date of July 2nd, 2012. NIA has accumulated an additional 199,452 shares of SYNC after its suggestion of the company. NIA intends to sell these additional 199,452 shares in the future and can do so at any time. NIA intends to add to its current SYNC position, but isn't committing to purchase any specific number of shares.
NIA is not an investment advisor. This email is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This email is meant for informational and educational purposes only and does not provide investment advice.
Additional legal disclaimer information: http://inflation.us/legaldisclaimer.html
So I was right NIA Was dumping shares the past 2 days
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