Today, The Bowser Report issued a daily mover alert on MeetMe, Inc. (MEET), which gained 10% or more today.
After reporting earnings on November 3, the company closed down $0.39 per share, or 13.93%. Today’s move recovered that loss and some. The company even hit a 52-week high of $3.07 intraday.
We couldn’t find any direct rhyme or reason as to today’s move, but it is clear that there was enormous buying pressure driving the stock’s price up.
MEET is currently in Category 1. The company reported a $2 million loss in the most recent quarter, but $5.7 million was a one-time bad debt expense related to the company’s termination of Beanstalk Media’s advertising services
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