yesterday at21 and 500 today at 19 1/4. SPLS had geta year, great comps. Made no sense for the downgrade based on ecommerce biz. SPLS intentionally lost $$ on web biz to build growth... what's a good word for that, oh yeah, an "Investment." Look for PPS to be in mid 20's by EOM, IMO.
IMO, SPLS wont be bouncing back to 27/28 as quickly as it has in the past, but we should be at or nearing bottom soon, 18's aren't out of the question, but will be bottom if 19 is broken. I would be surprised if SPLS wasn't back at 22-24 range within 2 weeks, it has much support in the 19's and is a very safe investment as compared to the overpriced, highly volatile tech stocks; and let's not forget the price targets of 35-40 are unchanged. I would say 26-29 range is achievable towards the middle of the next quarter, given MGMT. is showing the .com biz is growing (and perhaps growing a bit more profitably). Lastly, we must remember the millions of shares investors/institutions were gobbling up that led to the 3 jumps to near the $30 range.
factors that will help to increase STPL's stock price. One is the announced buy back of their own stock by SPLS. This would indicate that SPLS is awash with cash, and won't be as negatively effected by the probable rate hike by the Fed as some of their competitors. Curiously, this did not have the effect today, that I thought it would. Secondly, the issuance of the tracking stock should bring in even more cash. Patience is the story at this point because the horizon looks pretty good.
With some of the wizards (not) I hear are moving over to SDOT I'm not suprised w/ the cash bleed . Whats up w/ the pool table? Do they really think the half wits from B+M I.S. are real web developers? heh
Anyone want to toss some names out ? Our favorite overpaid I.S. dolts perhaps ?
I don't have any shares of SPLS, but I must say that this must be very frustrationg to all longs of SPLS. I have been investing for a couple of years and most of my research is from Money Magazine. They love SPLS. I've done some other research, and it really is a great company with 30% yearly growth. Good managemant as well.
All I can say is hang in there and as soon as I can get some money together, I'm in.