Bidz.com On The Offensive (BIDZ)

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By Douglas A. McIntyre Published

Shares of Bidz.com (BIDZ) are trading up 8% pre-market after it announced after yesterday’s close that it was going to investigate possible wrongdoing by Andrew Left of Citron Research after his negative report on his website and would report trading activity to regulators.

The company investigation also notes "and others in connection with recent trading in the Company’s securities."   Bidz.com said it is concerned that recent trading activity may not be in compliance with SEC guidelines and even mentions naked short selling.

Bidz.com has also warned taht trading may be volatile as shorts are covered and the like.  That might be an understatement since this stock was cut in half.

This one caught more traders off guard because it had been recently added to the Investors Business Daily list.  This stock did briefly qualify for review in our weekly "10 Stocks Under $10" but it didn’t last under $10 very long.

Bidz.com shares are trading up 8% at $10.91 in pre-market trading.

Jon C. Ogg
November 29, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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