What'd he say? LOL Maybe some of you saved a few bucks a share.
einhorners (aka dufus shorts trying to huff and puff this way down) weren't able to push it down toward the prior close (gap) until late in the day. Our cover target is pushed down to $25 or so now pending the 27th conference call.
Good luck to the longs -- we are with you net long.
I like buying the gap all the way down to $19.30 but I said long ago you buy anything under $25. I own lots at every dollar that printed at $25 and below. Long and waiting for the gap fill to $48.62 or bankruptcy...whatever comes first. Either outcome is only a matter of time. There is either fraud or there isn't. Because the product already speaks for itself. It's that simple.
As for the "long term", all the way out to next week LOL, we'll see what they have to say on the conference call. Assuming reassuring revs and earnings and ebitda and a positive outlook, this should be able to sustain above $30... a fail on any of those items, including special charges stuffed into the Q (inventory writeoffs; no guidance issued pending the new ceo settling in for a few months to better grip visibility), and the stock may well mush a few bucks. That will be the ideal time to cover in short hedges and join the buying parade to get really long.
This remains a speculative stock near term... the fundamentals that will let it get meaningfully and sustainably above $30 are the same ones that will push it back above $40 next year -- a conservative target as the new guy settles in to build franchise value for a couple of years of collecting options and restricted stock prior to selling the company.