This company was brought to my attention today by an acquaintance, and I'm trying to figure out what is going on and if it's worth getting involved. I see a huge move up followed by a significant pull back, than a little sidewards action until this week where it's made about a 10% move. My concern is volume has been very low, the MACD has quite a downward slope and the RSI is in over bought territory. Also the bid/ask throughout the day was unfairly gapped. Much of this leads me to believe heavy price manipulation. The only reason I can come up with for todays 4.5% gain is possible a squeeze, I don't see any news to justify it? Also I am aware of what the company is doing but that far from explains the unusual action. Any knowledgeable input would be appreciated.
Excellent post & observation. Add to it, much insider selling, no profits (currently)and a sizable market cap. The management is fully cognizant of the short interest and makes announcements to manipulate the stock price as well as the market makers doing their own bid of the same, therefore, you have the unreasonable gaps up, without any basis. I'm short 2000 shares at a sizable loss, but so far, I have no fear & I'm certain it will pay off in time. Will sell puts agains the short position if a sizable move down occurs soon. I also sold 100 puts at 7 1/2 that expired worthless, fully willing to play both sides. No attachment or emotions. GLTA
Well this explains a lot. Hard to understand why any serious investor would participate on this board, apparently most of those who post just care to bash each other. I'll just use that ignore button often to weed out the pointless noise. For those who are here for the right reason, after doing some extensive research I like the direction this company is headed, however not enough to consider buying just yet. Aside for my other concerns, I don't like how this ended the day, gravestone doji which usually indicates a reversal. I will wait for confirmation beginning of next week. The good news is most of you here probably are on the plus side unless you bought above 115.33 the close of the day. If you're reading this and not in yet, do what you must but I don't see a reason to rush in right now.
Here's a simple dose of reality for you. Big money pouring into the stock. Price goes up. Simple as that. Over time the price has traded higher because the shares are in demand and people and institutions are willing to pay for them.
There has always been a large bid/ask spread in this name. And just wait til you see the options! The bid/ask gaps in its options are like michael strahan's front teeth.
You signed up for yahoo just in order to post this nonsense here as your first post? Hardly. You're probably the same short guy c2100 something or other, just with a new name. If a stock trades down 4.5%, does it need "news to justify it?" No. Similarly if it trades up 4.5% it does not need news to justify it. It just needs buyers, which it had. You are blowing smoke here. Please don't waste our time.
it looks like you are an educated investor, yes it more then doubled in less then 2 months.
my recommendation to you would be wait till it comes down to earth under 80 then buy it,
Or wait and if it goes up 2-3-more points then short it like crazy, good luck.
Agreed this has taken off like a rocket and I have no intention to invest long or short until I find out more and see if it's justified being at this level. I will say even if it is, that was one fast move up and usual that's followed by a similar move in the other direction. No position yet but on my watch list now. Thanks for a civilized response, unlike that putts Red!