Netlist Inc. (NASDAQ: NLST) is losing its way. Last week was actually a very large surprise after seeing it rise after an apparent and false fall from grace. But maybe reality is setting in that stocks don’t usually rise from under $1.00 in the penny stock category up to over $7.00. It would be easy to throw the rationale out, but Netlist is a purely trader-driven stock now that ebbs and flows with the direction that the money goes in and out of it. Shares today have traded over 12.2 million shares at 3:50 PM EST and the market cap is $129 million. A dollar-weighted average of $6.70 day (mid-point of $6.10 to $7.30) shows that $81.7 or so traded in share price volume. That is not an exact number, but is close enough and gives you a feel for how much stock traded versus what is really out there. It traded more than its whole float on Friday.
As of the most recent balance sheet, Netlist had close to $16.5 million in cash and investments and a net tangible assets of almost $21.6 million. Its revenues last quarter were almost $6.45 million.
As we have noted, this one feels a lot like K-Tel from the 1990’s.
JON OGG
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