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Buried In the Carnage Tangoe (TNGO) Holders Find a Glimpse of Hope

September 7, 2012 12:34 PM EDT Send to a Friend
Shares of Tangoe, Inc. (Nasdaq: TNGO) are down again today, following the second brutal attack on the company in as many weeks on Thursday. However, a disclosure from attacker number one has investors feeling a touch better.

TheStreetSweeper.org, which issued the original negative report on TNGO on 8/28, disclosed on its website that it has fully covered its short position:

Update: Since the release of its investigative report on Tangoe, TheStreetSweeper has closed out its short position in the stock by executing the following transactions: covering 43,171 shares on Aug. 28 at an average price of $17.26 a share; covering 44,100 shares on Aug. 29 at an average price of $17.03; covering 11,000 shares on Aug. 30 at an average price of $16.62 a share; covering 3,000 shares on Aug. 30 at an average price of $16.20 a share; covering 1,900 shares on Sept. 4 at an average price of $16.73 a share; covering 2,102 shares on Sept. 5 at $16.84 a share; and covering the final 18,500 shares on Sept. 6 at $15.51 a share. As a result, TheStreetSweeper has no financial position in TNGO at the present time. Going forward, however, TheStreetSweeper may choose to establish a new short position in the stock. If so, it will fully disclose the details of any future transactions in the stock as those trades occur.

But all is not rosy for investors. Part two of TheStreetSweeper's report is due out today.

Shares are down 11 percent to $14.21 currently, but some traders are looking for a dead cat bounce here.




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Comments

Get your facts - clarified
Jeff Dunlap on 2012-09-07 14:38:01
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In case I wasn't clear..by "they" I refer to copperfield research... Copperfield has mixed just enough facts with with lies to make themselves sound credible. They are not! We have seen actual credible analysts who have done credible due dilligence research on Tangoe, Inc. and stand by them and Tangoe's worth. The copperfield report misrepresents things to make money off their shorted stock and then run away to plan their next attack... They have done this before. An educated buyer knows better than to trust these so called research firms. Try doing your own real research.

Get your facts
Jeff Dunlap on 2012-09-07 14:29:19
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You are being fooled. Have you done your own research on this company or do you take all stock advice from anonymous sources on all of your investments. They have mixed just enough facts with with lies to make themselves sound credible. They are not! We have seen actual credible analysts who have done credible due dilligence research on this company stand by them and the companies worth. The copperfield report misrepresents things to make money off their shorted stock and then run away to plan their next attack... An educated buyer knows better than to trust these so called research firms. Try doing your own real research.

TNGO IS A FRAUD
Ricahrd J. Marini on 2012-09-07 13:37:25
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What does the fact that they closed their short position have anything to do with feeling better. They've and others have shown that Tangoes books are fraudulent and nothing more then a Ponzi scheme. That their executives have a history of cooking the books as well. Regardless if streetsweeper closed out their short position the information shown in the investigation is still very true. CopperField research group also called on the SEC to investigate Tangoe. Tangoe is nothing more then the Madoff of the TEM industry. I should know, I used to work for both of these crooks. I'm one of the original developers of the the billingIT platform which was an open-sourced based high volume high scale distributed TEM platform. We where VERY profitable until Tangoe came along and acquired us and sucked us into their model which is NOT profitable and will never be profitable. They are not a tech company at all. They simply use investor money to acquire companies and then claim their revenue on their books and then use those numbers to get other investors to give them money, etc... Even if they were able to "Acquire" 100% of the market share that doesn't mean they will be come profitable. I don't care how much marker share you own if your model is not profitable then even if you own 100% of the market you will still not be profitable.


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