Ridiculous: Voltari enters real estate biz, stock rockets over 100%. Growth? No! With only $2.5m cash, they need raise. BUYER BEWARE! We’re short.
Here’s what the company states: In addition to our entry into the real estate investment business as described above, the Company intends to explore additional strategic opportunities from time to time, which may include opportunities with respect to its intellectual property, investments in various industries or acquisitions.
August 2015, Voltari Corporation (“we", “us”, “Voltari” or the “Company”) committed to and began implementing a transformation plan pursuant to which, among other things, we exited our mobile marketing and advertising business and entered into the business of acquiring, financing and leasing commercial real estate properties. The Company intends to lease such properties pursuant to so-called “double net” or “triple net” leases.
Investors must watch out for this stock. Voltari needs cash and will likely take advantage of this run-up to issue stock. Dilution appears imminent. Don’t get stuck holding de-valued shares.
* Important Disclosure: The owners of TheStreetSweeper hold a short position in VLTC and stand to profit on any future declines in the stock price.
* Editor's Note: As a matter of policy, TheStreetSweeper prohibits members of its editorial team from taking financial positions in the companies that they cover. To contact Sonya Colberg, the author of this story, please send an email to email@example.com.