I described the VRNG trade here. It was working well, and thought about covering some on Friday at $2.80's from $3.50 s/s, but I decided to hold out for $2.50's.
In after hours Mark Cuban disclosed a 7% stake in the company. Cuban acquired the stake before the recent price spike (cost around $1.50's). He must like the chances of a patent settlement with Google. He follows the patent area closely.
I had shifted my stop to $3.20, but the stop was programmed to only go off during market hours. The share price has spiked to $3.50 post the news. This news is a game changer, and I want to cover, in hindsight I wished I had just taken the $3.50 after hours. I think the stock will run big on Monday morning, I just hope I can get out close to $3.50. The position is small, so if it gaps big and runs, I will not panic sell.
VRNG is a potential short if the stock jumps enough - $4's plus, but I may be lucky to locate shares.