Voltari Corporatin (VLTC)
By: Jimi Tele – Warrior Trading
April 6, 2015
VLTC Reaches 52 Wk High on Easter Monday
VLTC (Voltari Corporation) trumps its end of March announcement of closing of rights offering with a high of $4.52 during Easter Monday trading on April 6.
There are speculations as to the reason for this 52-week high including reports that activist investor; Carl Icahn allegedly increased his stake in the company during the closing days of March.
Today’s strong performance appear to support the notion that investors have flocked into VLTC with optimism that Carl Icahn will effect change in the Company and increase value for the retail investor.
However, the fundamentals at time of writing were as follows: Market Cap of over 21M, share volume of over 13M and about 70% price change over previous close of $2.63.
VLTC based in New York, USA with about 91 employees provide diversified communication services to telecom carriers across the telecom industry.
Number of Institutions Holding Shares: 27
Breakdown of major holders are as follows:
% of Shares Held by All Insiders and 5% Owners: 16%
% of Float Held by Institutional & Mutual Fund Owners: 6%
% of Shares Held by Institutional & Mutual Fund Owners: 5%
Direct competitors include MRIN (Marin Software Incorporated) and FUEL (Rocket Fuel Inc).