He was so certain...Infact he even said "I promise you..."
So i by at 17.50, then 17, then 16, then 15, then 14, you know averaging down...
Now I've lost thousands, close to 10k.
I can no longer believe that he did not purposefully pump it for the private investors.
After also watching this for months it really seems like we just have two money houses selling and buying from each other to drive the price down. Bid and asks are very suspicious and often large block bids seem to dissapear after those orders surrounding them get filled.
I'd appreciate any comments or perspectives...been waiting so long to vent over this one.
I use to really like and believe Cramer...sigh
He was saying to buy at 18 or less, not at 17. He was telling us to hold for 2 quick points. He wanted you to cap your upside at 2 points but you have more than 2 points on the downside (so far 5 1/2 points and counting. That is how you manage money. For all those who want to know whats going on, read my posts of the last couple days. Also, the issue here is do we get a warning on 2nd q. From what I understand, management has been conserv. with wall st. and with their guidance. If this is the case and if wall street's mid 90 cents this year and $1.15 already factor in weak sales and it doesn't get much worse, then this stock is close to the bottom, in my opinion.
i REMEMBER the day he touted this stock.
He was very adamount AND MATTER OF FACT about blessing THIS STOCK AT 17 AND
NOT hOldING over 20 and to buy it at
17 17.50...So like an idiot; AND FALLING
FOR HIS BULL, I bought at
17, just like he said and to sell at 20
and don't be greedy...
NEVER, NEVER WILL I TRUST A FRIGGIN THIING
HE SAYS AGAIN AND HIS CREDIBIITY IS GONE
WITH ME. SCREW ME ONCE SHAME ON U, SCREW ME
TWICE SHAME ON ME.
YES I HATE CRAMER, I TRUSTED HIM AND NOW
KNOW WHAT A SCAM HE IS.
I think Cramer got run out of the hedge fund biz by the SEC or such (figures). His thing now is a charitable trust and the show and I don't think he can short stocks anymore. No I'm not pro-Cramer.
Yeah, I can't figure out where the shares are coming from either. There was so much stock turnover the first few days of trading, you would think the sellers from the IPO sold already and the value guys who bought at 15 and 14, are they selling here? Cramer is a real piece of work. And I loved that day when he had Eliot Spitzer on the show. I mean, what was that all about? Here you have a guy who is supposedly cracking down on stock promoters, and he is on a show endorsing a guy who potentially could lose people a lot of money. You have Cramer, who is a good salesman and who was successful managing money for his hedge fund, telling the average Joe to do what he would do when it comes to investing. The ave. Joe is not a Cramer running Hedge Fund money who could move in and out of stocks and hedge in all sorts of ways, and you have Spitzer on this show, seemingly giving his approval that the ave. person should listen to Cramer. Attorney Generals from other states should investigate Spitzer.
I am wondering as well...where are the shares comin from that keep gettin sold...mass shares being sold for losses wtf.
I'm not sure but either it is KKR still selling away and private investors or its insiders selling.
Only other option that I can see is that these shares are being shorted naked...or some money houses are trading them back and forth to bring the price down.
Whatever it is I did sell for a loss already bc I think this is goin lower...whenever it touches a new number it usually goes to the .50 then the .00
I may buy back in when i see some insider buying.
ALSO WTF IS CRAMER THINKING RECCOMMENDING THIS WHEN ALL THE INSIDERS SOLD OUT AT 16.00
Couldn't have said it better myself, except I lost $25,000 and counting. I too have been waiting to vent. He was so certain. I would never buy just on what one person says. He caught me at a weak moment. And also, I kept hearing him in my head, when trading started, that if you could buy it at 18 or less, do it. So I bought at 18, 17, 16 and 15. I can't believe I did it. He is a very good salesman. We have to hope mattress sales are not so dependent on home sales, the economy, and that management can now focus on their new roll-out and pricing pressures from Simmons, now that the offering is over and they can spend there time on managing the bus. I just think this thing was priced too high at the get go when management new top line growth was under pressure. KKR is a good customer of wall st. and I think wall st. worked for them and not us.
Your story reads 100% familiar. The only saving grace is that it is a company on the upswing. The new products are up in price, so I don't believe it will affect margins. If anything I think margins will improve. The new memory foam, or True foam as they call it, is sooo much more expensive then the conventional spring mattresses. We are selling these new models like crazy. They must have better margins, and a new product cycle always brings a new burst of volume.
I won't give up my shares at these prices. Someone has forced the price down, but I will ride this one out.
And has he mentioned ZZ since that day he was bouncing up and down on the mattress???
A big fat NO.
Not to mention he will not accept my request to ask about it on the show...been denied 3 times.
Cramer wants to pretend he never said what he did about it.
We have Vonage the dog what about Seally the dog...
Sorry you lost so much money...maybe you can get it back in HOM what do you think about that one?