Yesterday I saw this kept hitting new HOD, so I bought at $3.42 and sold in six mins. at $3.50. Then this kept going higher to $3.66, but I was happy with my 2%. Now today the stock is down to $3.36, almost 9% down from yesterdays high. This thing is crazy, who or why would anyone buy and hold this?
Because new guy, all the longs on this board feel the hold will pay off with the Google suit, and or buyout play. BOTH PLAYS are BAD when it comes to investing. So the longs are gambling that it pays off, and trust me they will ALL SELL when their price hits. Company's that don't make money (LIKE THIS ONE) are not wise investmnet choices.
If there are longs in from $1.20, they killed it. What a great trade, assuming of course they sell and get profits. But with this volatility, is there any value in buying and holding at this price. I could understand holding if you bought at $1.20, heck even if it goes down to $2 you still made a great trade. But are there long term buyers at $3.40?
I think it's pretty obvious from everyone's posts that no one is holding this stock. We're all shorting and day trading it. There is absolutely NO long term value. It's a dying company and it's getting sued by google. You should work on your reading comprehension.