So FBR downgrades the stock and raises the price target due to "heavy short interest" in the name, according to these links:http://www.streetinsider.com/Downgrades/FBR+Capital+Downgrades+True+Religion+Apparel+%28TRLG%29+to+Market+Perform%3B+Share+Reaction+Prompts+Move+to+Sidelines/6327737.htmlhttp://www.minyanville.com/businessmarkets/articles/upgrades-downgrades-stock-upgrades-downgrades-analyst/2/28/2011/id/33039And to think I thought the heavy short interest in the name would be reason for a short squeeze. We'll see as the day goes on.
The FBR downgrade was Feb.28.Rather Old Hat to talk about it now.
It is worth talking about because the price change since then indicates how much credibility the FBR analyst should be given on any further commentary when earnings are reported soon.
sounds more like a paid job for shorts to cover some shares. some big boys screwed the pooh on this one. today's red is nothing. due to the high percentage of short, we will probably recover those red by the end of the day.
The downgrade after earnings referred to in this thread looks even more ridiculous now.
Yeah, I can't think of any prior examples of an analyst downgrading a stock shorts got wrong due to a high short interest.