Stock Donkey Report

Lipscomb, Berman start new energy company

by , May 16, 2010 | 10:18 am

Fugk! I know I shouldn’t bemoan someone else’s success, but I just read about Steve Lipscomb and Lyle Berman’s new venture, an energy company called Voyager Oil & Gas. (Seventh item down.)

Back in November, when I first learned about the WPT’s imminent sale to PartyGaming, I bought up as much WPTE stock as I could, assuming it would blow up, or at least be converted to Party stock in a highly profitable way. Much to my disappointment, when the new shares showed up in my online account, they were for Lipscomb’s new company, Ante4, which had no plans just a bunch of cash. They were trading at less than a dollar a share.

Believing I had seen this repeatedly while chasing penny tech stocks in the late ’90s — almost always these companies available on the cheap gave me hope briefly before descending on an asymptotic curve towards zero — I quickly sold all I had just bought of ANTF and dumped it into PRTY.L. If only someone had told me to hold on to it! Now, just six months later, the new Lipscomb-Berman joint that I got (and got rid of) at 90something cents is trading at $3.44, for a YTD increase of 222 percent.

Why do I think for all the grief I’ve given Steve Lipscomb over the years, he’s sitting in a very happy place right now, laughing … at me?

Seriously, I can’t believe they let people gamble this way on the internet! But it’s just so hard not to with those cute baby ads making it seem like any kid with access to a computer and a credit card can do it!

Party’s stock, btw, hasn’t exactly exactly been doing poorly. But does anyone know what caused such a dramatic but temporary plummet for a few days this month?

4 Comments to “Stock Donkey Report ”

  1. Kevin Mathers

    Probably their earnings report:

    Also, the ANTE4/Voyager reverse merger means they’ll be spinning off their ClubWPT and any revenue that Party sends them into another company, Ante5.

  2. DanM

    Hmm, interesting … what do I know … I’ve never made money in stocks. But that dip, followed by such a quick recovery, seems like more than just an earnings report blip in the matrix. And the report I read hardly sounded dire:

  3. Fawcett

    Do you watch any news? The Dow was down 1000 points and back in a 20 minute swing that day. Prolly had something to do with that.

  4. DanM

    i knew about that — and still have yet to hear an understandable explanation of WTF that was. my best guss is that either ben bernanke secretly shifted a chunk of the national economy to isildur, or dick cheney’s pin was still active and he tried to make one last withdrawal before getting caught.

    did other companies do/see the same thing? party’s mini-crash followed by a big rebound seemed to spread over a few days, as opposed to a few minutes.

    you don’t have to answer that, fawcett. as an admitted stocks donkey, i realize having to talk economics at my level of understanding is probably like me trying to talk PLO with you.