MNGA is pushing hard for 80 RSI where it could trade as high as $1.13. That’s strong gain potential from current valuation and 64 RSI.
I sure don't like the recent price declines, but it has been on light volume. Probably crazy, but buying more, today, expecting the company continues on its return to greatness. I don't see any reasons why this stock is priced so low compared to others and its recent few years. Though, because the path isn't clear, I can't confidently recommend it to others, yet.
Good luck, longs.
Wow, this has been a "catch a falling knife" situation! It has dropped 15% in less than a week on zero news. I'm tempted to buy more because it feels like a bargain, but the rate of decline is also frightening. The five day chart looks like a kids slide in a park.
I need to step away from the stock and not consider it much until there is quarterly news. Either the price decline is someone in the know dumping ahead of #$%$ news or its manipulation; but why manipulate at this point.
It's got to be hard on insiders seeing this price decline, too. It would be nice if they commented. I don't believe management needs to comment on minor price declines but this has gotten a little ridiculous, quickly. So, they should speak up. If they need to revise downward, they should do it publicly. It seems non-shareholder friendly to idly sit by and not comment.
Good luck, longs.
Thanks for the post and your thoughts.
Difficult to know for sure what is going on with this stock, or any stock for that matter. After selling my positions at around $2.80 I have been patiently waiting for a good re-entry point. That time may actually be here now, but I still have concern that the price may drop even more up to and following the earnings report unless the report is VERY good. And I mean stellar. By that I mean it needs to handily beats previously stated guidance.
The Q1 ended Saturday, May 2. On Tuesday May 5, there was huge volume of nearly a million shares traded and the price declined. Coincidence? Difficult to say but definitely puzzling in a negative way. Maybe I look too much into things, but this is my hard earned money after all.
I'm hopeful this company can turn itself around but the reality is it hasn't made a profit in a while. Hiccups (in the form of poor quarters) along the way to profitability cause me great concern.
I would welcome news of any kind from management.
amazing that any company could do such a good job of suicide ... I would never buy any of their #$%$
#$%$ were they thinking with that shirt, seriously? Can't be good for a company that's already struggling.
Sentiment: Strong Sell
If I avoid everyone and everything that has ever offended me, I will be alone in a box and angry at myself. Not a way to live.
They admitted it was a mistake and said they would stop selling it. Mostly, end of story.
Flag waivers hold grudges. You're kidding yourself if you think this won't impact company financials.
Maybe, but people seem so "capital" in their conclusions, now. They don't like something, so they say, "fire them" or "I will never shop there, again." Yet, when those same people make a mistake, they want forgiveness or, even more so, want their mistake to be deemed okay because it's their right.
Everyone makes mistakes. There is no way to do anything for any meaningful period of time with errors involved. The key is how we deal with them. Fix it and move on.
You are probably correct that some will hold a grudge for a long time. At the same token, others will come to see what all the fuss is about, and they might buy something.
It's a bit like the field of economics. Certainly, one can theorize that an even will have a likely consequence -- lower fuel prices will lower costs therefore be a plus for the economy. But then there are counterbalancing consequences, too -- lower fuel prices mean less profits and jobs for some sectors so a negative for the economy. The end result is not that big of a move either way. There are so many influences that predictions become guesses. Same with this, in my opinion. That's my guess.
Oh, and I'm always kidding myself. Most of my life is fantasy not reality. Most of perception is fantasy because it involves interpretation that is only my truth.
I meant to type: There is no way to do anything for any meaningful period of time WITHOUT errors involved.
I rest my case.
If you think the 17-26 crowd give a #$%$ about this you're sorely mistaken. If it's rad, they'll wear it. Non issue.
You raise a great point. The flag waivers that vow to never shop there were not customers prior to this incident, so it's easy for them to swear off on the store. For the target market, this was a non-issue.
Years ago, people got all upset about any copy of the flag of any sort. Since then, I have seen GHWB where flag socks, which would have been considered offensive in the 60's or 70's; but there was our former Commander in Chief sporting them. Times have changed. The younger crowd is far less likely to view the flag tee as offensive, and if they do, they might like it more.
Thanks for making the point.
You mean the age demographic that comprises more than 1/2 of Active Duty servicemen? Yes, I think they would give a #$%$.
Pac-Sun has had exactly zero press in years. This is fine. Their market is teens. You think teens are offended by this? If anything it shows a little subversiveness, a little edge.