Analyst Tells CNBC LiveDeal, Inc. Among Most Shorted NASDAQ Stocks While Another Buys Citing Extremely Oversold

NEW YORK, NY--(Marketwired - Apr 17, 2014) - LiveDeal (NASDAQ: LIVE) is among the most shorted stocks on the Nasdaq and as the short interest continues to rise, it certainly explains the company's strong slide from a high of $11.94 on February 14, 2014, to its current price of $4.37. LiveDeal, which operates www.livedeal.com, a unique real-time "deal engine" in the restaurant industry in New York City, Los Angeles, San Francisco and San Diego, has seen its stock price plummet on over 16 percent short interest of shares outstanding.

Simon Colvin, a research analyst, told CNBC that LiveDeal, Synaptics, Inc. and Plug Power, Inc. were currently topping the list as the most heavily shorted tech companies on the wider Nasdaq Composite index. But, making this list is confusing given LiveDeal just announced it's expecting higher revenues from Q1 over the previous quarter and appears to be heading in the right direction.

LiveDeal has been consistently showing growth among new users, increased online and mobile user traffic, higher voucher redemption, the addition of new major cities, the launch of its new Android app, and more restaurant participation on its platform. So, with all of these positives, LiveDeal is just one big announcement away from creating quite a stir among those who are short this stock.

Meanwhile, after Wednesday's closing bell, Richard Gobel, owner and operator of Strategic Stock Trades with more than 30 years in the investment business, said in his TheStreet.com article that he added a new position with a buy in LiveDeal at the end of trading. "I may be a day or two early, but it is extremely oversold and I will add Thursday on red if necessary."

Currently LiveDeal is curating promotions in the restaurant industry, but the company's platform is certainly ideal to enter into a number of different verticals; including, the travel and hospitality industry, and the retail space.

Also, CEO Jon Isaac recently announced a strategic partnership with www.Menu1.com which will utilize its sales force of more than 120 and growing to drive higher restaurant participation in the 4 cities where LiveDeal has launched, and additional cities around the country as Isaac has stated he expects to move into the top 20 major cities in the US.

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