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TEUM - Pareteum's Blowout Quarter But Some Doubts Linger
Pareteum Corporation
Pareteum (TEUM), the fast-growing CPaaS (communication as a platform service) provider had a blowout quarter, beating analyst expectations by a considerable margin.
Yet the share price, after rising initially to $4 in after-hours trading, sunk back to the low $3s during the next day (Wednesday), so apparently there was something in the earnings investors didn't like.
We have followed this company for a while and it's what one calls a battleground stock, with committed longs but also a large short position.
The shorts argue that the company has hugely inflated its backlog number,