Bidz.com On The Offensive (BIDZ)

November 29, 2007 by Douglas A. McIntyre

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

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.