market folly

Carlo Cannell's investment firm Cannell Capital has just filed a 13G with the SEC on Valuevision Media (VVTV).  Per the filing, Cannell has revealed a 5.05% ownership stake in VVTV with shares.

This marks an increase in their position by 121,994 shares.  Cannell owned just over 2.3 million shares at the end of the second quarter. 

The filing indicates the date of trading activity that triggered this disclosure is listed as August 29th, 2012.  The fine print of the SEC filing also points out that Cannell Capital's ownership stake comes as a result of owning shares for various entities it is the investment adviser or general partner of.

Per Google Finance, Valuevision Media is "a multichannel electronic retailer that markets, sells and distributes products to consumers through television, telephones, online, mobile and social media. The Company's primary form of product exposure is its round-the-clock television shopping network, ShopNBC, which is distributed primarily through cable and satellite affiliation agreements, and markets brand name and private label products in the categories of Jewelry and watches; home and electronics; beauty, health and fitness, and fashion and accessories."

You can view past portfolio activity from Cannell Capital here.