Another day and another runner, this time the price of one OBLG share skyrocketed more than 60% in pre-market session. The reason? Some of the prominent Twitter accounts compared it to Zoom Video Communication.
And on top of this rumor more DD (due diligence) is announced later today. This might keep the momentum going a bit further but I do not expect anything huge from stock that lost 80% of its value for the last 5 years,
In the words of one social media user:”This appears to be a hardware company. Zoom is a software company. They have massive subscription base. Oblg is just pairing Cisco webex w their hardware. It’s not ZM”.
Another user noticed that Oblong is only:”18 Employees, Lost Major Customer,Sales of 15.6M, seeks to restructure bank loan and they took PPP Money”
The question is- What are we all missing? Why is the OBLG stock price going up today? No one knows except few chosen ones. Seems like I am not the member of that group.