MediaBay Inc. update

Posted on November 30, 2005 , filed under Stocks | Print This Post

MBAY, MediaBay Inc., closed at $1.74, up .23 or a little over 15% from yesterdays close. I purchased 2000 shares of MBAY at $1.67 today. I placed a stop at $1.40. I believe the stock will jump up on speculation over positive traffic reports for www.soundsgood.com from Alexa. I purchased MBAY purely on speculation. I would not advise risk adverse investors to purchase shares in MBAY. In the short term 2-3 weeks, I believe MBAY will trade in the $2-$3 range and there is a possibility that shares of MBAY may more than double. Long term I expect MBAY to drop. I see my downside risk at around .30 and my potential upside at $1.67 if the stock doubles.

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Comment by Tom

2005-12-01 08:39:54

is that .30 pre reverse split or post??

i too bought Mbay recently. i’m more of a long term trader. As soon as revenue starts increasing, not profits necessarily (audible, their competitior, still isn’t profitable), I see their stock price taking a major move up.

regards,
Tom

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