Extremely strong performance in GTAT against market and solar headwinds
Looks like capitulation by the shorts and penny flippers. The fast retreat back to $5.2 after the ER turned out to be a bear trap.
Anyone that's holding an overweight position here, "trading shares" as some call it, I think now would be a good time to start lightening up, or perhaps use a trailing stop as this run may continue for a while longer.
I'm part of the buy and hold crowd, so I am not taking any actions. The company itself is just getting started, really.
I'm a long as well. I'm averaged in at $4.46 a share. I've been in over a year, so I can sell & take a 35% profit, minus capital gains of course. Like I said, I'm holding.
But I have no illusions. This is not a safe blue chip gotten at value. I realize the odds are good that I take a bath on GTAT. They don't make money. Their markets are tentative, especially solar, with sapphire still defining itself.
My gamble is that the solar market will come back. If it does, I'm confident of GTAT being a multi-bagger. GTAT is near the front of the solar supply chain in an advantageous position. Again, I admit it is more of a hope & wish, as opposed to being a product of solid financials.
I'm in a similar boat. My average is better but it doesn't truly matter, the risk is the same (lose $6/shr) no matter what your cost basis is.
And yes, it is a gamble any way you care to look at it, it's just that the manner of executing it, in my opinion was best done with a buy and hold strategy. There's no real way to time these things. It is very far from being solid, it's both a growth stock and a tech stock. The "hit or miss" performance won't be as extreme as say a biotech company, but still. For those of us not trading the stock, we have not truly won anything until the company "makes it". That's still far off and far from certain.
Agree - amazing performance today on very high volume with no news. All of my solars except GTAT have gotten killed. I wonder if someone knows something we don't. This kind of action is making me want to buy more