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Leap Wireless International, In Message Board

  • techxpit techxpit Oct 14, 2009 6:39 PM Flag

    21 to 14, 33% drop in about a week.

    how the hell is that possible. when Mkt just hit 10000. what did LEAP lose to lose 33% of stock price.

    And from $40 to $21 prior to that.

    Are we sitting on 5 bagger ?

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    • I'll try. I think it could have been a "perfect storm" -
      1) the secular decline of the Telecom sector that analysts keep talking about supposed to hurt LEAP's among the hardest
      2) price wars (e.g. ATT new offering)
      3) Harbinger probably keeps unloading his enormous position in this small cap as his clients are pulling out the money (60%!). those in the know short along with that.
      4) initial dumping of the stock from the 40's lured "trend is your friend" shorters, they keep feeding on it - the more it goes down the more they get excited to short more
      5) finally, no buyout is what started the new wave of selling. I suspected the byuout rumors were trouble, should have gotten out then on a nice bump. But even then it was reasonable to expect a higher price.

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