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Fastenal Company Message Board

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  • tuscanaa tuscanaa Apr 13, 2010 9:56 AM Flag

    Maniupliate Stock ?


    Stock is worth about $30 on a good day.

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    • I had a pre earnings short, now looking at substantial losses. I can hold the short till $65-70 after which I will probably close. The problem is how long to hold the short. The earnings may one day catch up with the share price. If it is propped up long enough !

      The short base is huge and waiting for a fall 16.61 days to cover 12.82% of the total shorted. Or $1.4bn of value shorted ! This certainly indicates a lot of people think this is rubbish share is overvalued - but when and how long to hold ?

      There is a high number of insider ownership.

      % of Shares Held by All Insider and 5% Owners: 21%

      For example STZ is the same

      % of Shares Held by All Insider and 5% Owners: 93%

      This makes the share price difficult to fall as a large number of the shares are held for ever by the owners.

      I suppose I will need to hold till next earnings release.

      Another example of this nonsense valuation is NILE. (Blue Nile)

      • 1 Reply to boo12345679
      • Shorting a heavily shorted stock is risky. Short cover rally can drive the price up fast.

        I predict FAST will decline from here, into the high $40s. You might cover your short at $48 within the next few weeks. I expect the market to be lower in May than today by 5% to 15%.

        The fundamentals do not support a price above $35.

42.41+0.7800(+1.87%)Apr 27 4:00 PMEDT