March Update – Time to Buy More ATRN
A quick update for the Groove community on our two focus stocks – Vertro and Atrinsic. We are pleased that some sanity has returned to the marketplace and Vertro has rallied off the lows we discussed in our last update. We still think there is substantial upside potential with Vertro long term and expect to see it move back to a higher short term trading range after the occurrence of any of the catalysts mentioned in the previous update.
We could not be more bullish about where the Atrinsic story is headed and believe that members of our community would do well to buy more shares at these levels, even those who bought a full position when we first recommended it at a reverse split adjusted $1.20. The company’s Kazaa acquisition appears to be on track, the Kazaa mobile offering is live and we see many stars aligning that will bring significant attention to the broader streaming music space. Few are in a better position to profit from that than Kazaa and ATRN shareholders will be the beneficiaries of this. We think investors would do well to acquire shares now, before the hype that we expect to see in the weeks leading up to Pandora’s IPO and before Spotify’s entry to the US.
In summary, we think GrooveVC participants would do well to buy more ATRN stock ASAP and we encourage all of you to continue telling your friends and associates about Kazaa (http://www.kazaa.com) – this should be an easier sell now that they can access it on their iPhones, Androids and other smart phones.
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