Look at what this stock did around and after the Q1 CC, and you will see that it is behaving very similarly now. Strong gains followed by dips (sometimes quite deep) due to profit-taking, but an overall positive trend. The only difference is that the starting point this time around was roughly $4 or 40% higher, which is quite reasonable as it is a larger company now than it was in Q1.
If you believe that trend is being repeated (which I do), you can either be conservative and say that it will go to $32 ($28 + $4), or be aggressive and say that it will go to $39 ($28 + 40%). Both these outcomes are quite reasonable from a fundamentals valuation perspective. Either way it's a pretty good outcome.
Or you can believe ashaholos and wait for it to go back to single digits. Personally I think that will be financial suicide, as it could only happen if the company completely misrepresented its situation in their recent CC. JMHO. Do your own DD.
Good luck to all longs.
Hell..I've been saying that for over a month!
The ONLY thing different this time is that>>>WE HAVEN'T HIT NEW HIGHS YET! Last time around (the May launch), we hit new highs MUCH earlier. That's why I keep saying>>>"NEW HIGHS A COMMIN'"!! Not only that, when we hit new highs, the stock should fly much further, since it hits radar screens of people whe never HEARD of CLICK!
Well, if nothing else we've made ourselves feel better about our investments. :) I plan to hold my entire position until the next CC, and I'll see what they say in their PRs between now and then. If I see a resoundingly positive trend, I'll hold the entire position through that CC. If I'm somewhat unsure, I'll only hold my core position (which is about half of the current position). I really like this stock as a 2-3 year investment, but agree that it has a high degree of volatility, so what happens in any given quarter can be quite painful.
I'm simply talking about what happens over the next two months. What happens after the next CC is anyone's guess.
But to your point, I think only long term shareholders will want to hold through that CC, especially if I'm right and it is somewhere in the $32 to $39 range at that point.
But as for the next two months BEFORE the CC, I'm quite bullish. They released VERY strong results, and have promised only more good news. I don't see any reason to fight that.
You've actually defined the reason why I think there is less downside. The fact that there are 3M short shares means you can't have too much more additional shorting to drive it down. The only thing those shorts can do is cover.
So what you're saying despite 2 million extra shorts during that time we're now approximately 3 times higher then we were before.
How is that supposed to scare me?
When the shorts eventually start to cover there is only one way the stock can go and that way is up.