The Canadian retail speculator isn’t dead, they just don’t give a damn about mining anymore.
LX-Ventures (TSXV:LXV), a publicly traded technology VC founded by Keir Reynolds and led by CEO Mike Edwards, has been on an absolute tear recently, climbing over 600% in 40 days on very strong volume (9 million shares yesterday, for example). The company has issued 9 press releases in November, mostly touting celebrity partnerships for Mobio, a social media platform for stars and their fans, which is set to launch on December 1, 2014 (Mobio.net).
Mr. Reynolds offered me some of the $.10 private placement with a half warrant at $.30 in Oct. 2012, but I passed, citing that tech VC should be private to save on G&A. I completely misjudged retail investor appetite and missed a ten bagger on LXV. Congrats early LXV longs and especially Keir, who has exposure to 1.9 million shares, warrants and options in the company, that could be very valuable, assuming he takes some money off the table. I’m sure his followers are pleased.
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