It’s not surprising that shareholders ran for the exits on news that Wireless Ronin is to be thrown off NASDAQ at the end of this week, see last week’s story ‘NASDAQ Delists @WirelessRonin Securities‘.
Ronin’s share price closed Friday at a little over a dollar and there’s lots of reasons to think that it will fall further when the US markets open later today.
What fools though, those persuaded by Roth Capital Partners, LLC back in March to invest USD 1.4M in the business.
That ‘investment’ was at USD 1.80 a share and ‘investors’ got warrants to buy shares at USD 2.73. All in all a crazy USD 18M premoney market capitalisation whereas we now have Ronin’s market capitalisation being lesl than USD 6M.
No doubt all those investors are thrilled at what lies ahead (the answer is likely “not much”).