this is a stock that saw a pretty substantial move up before the offering. I think that trend will return before the average three weeks. It has been holding close to the price offering and that is not typical in my experience. What I have seen in the past is a significant drop below the offering with an eventual return to it. This stock had momentum before the offering and I think that momentum will return. We have a great company here and people want in, as illustrated by the recent rise to $7. Most are going to wait for the price to settle but in my eyes it will be too late then as the price will likely go above my buy range. So here I sit and wait.
In my humble opinion, which I know does not matter, I see this settling by Tuesday next week. I also do not see this going below 4.80 and really I think today is going to be the low. What we are seeing today is the Friday sell off that comes after a week of green on wall street. Only losing .13 off of the offering price after 5 days is actually pretty impressive if you think about it. Wait we just hit 4.85, so maybe more blood on the floor for today. We must wait and see what next week holds for us.
No, the pump was from Nomura Securities. Look the day after they release the research report expecting $12 and that is what caused the run up to $7. People don't want in, they were pumped and dumped. You won't even buy it now.