I am getting sick of talking about SPNG.  I blog about it monthly.  However, my members have made serious gains trading this long and short….I have recommended both.

Come September 22nd and SPNG says “goodbye” to the day trading world.   That is the day that the reverse stock split become effective and for every 100 shares of SPNG you have, you get one.  At the time it was announced, the stock was trading around 20 cents.

Boy, did the short sellers get rich.  My last blog (read it here) I talked about how SPNG was ready to be shorted and had put out a press release essentially taunting the short sellers in the penny stock (read release here) .  It takes large cojones to spit in the face of traders. Guess what, the short sellers won!  The PR said that even the most recent short sellers were at an average of 16 cents….guess what?  The penny stock is now at 9.3 cents and the short sellers are loving it.

Here is SPNG’s chart:

Goodbye SPNG.  I will miss you.  You were fun and profitable for me.

Traders will miss SPNG, too….for about 5 minutes.  And, then we are off looking for the next play, the next hot thing and we will forget all about you.

If things don’t work out with the “Big Boys” of Nasdaq,  SPNG, you are always welcome back in penny stock land.