The irrational exhuberance of the momentum fools ends up the same way 99% of the time. The same finality will happen here within a day or two.
1. No news, no catalyst
2. An uncalled for short squeeze
3. Technically extremely overbought
4. Fear, that will take it down quickly, is a much stronger emotion than greed
5. This company is competing with numerous other companies in a field that is getting closer and closer to saturation
First nobody on this MB is a "moron". because they don't see things your way.
Second, nobody on this format posting knows what is going on behind the closed doors.
Third, if to have any "FACTS" to support your opinions let's hear them without the name calling.
Ok, guys, now that I've covered my short at 7.32, I have a few minutes to respond without name calling...
Well, yes, it's pretty well understood that commonsense dictates that there is a reason for everything. Perhaps a few savvy Wall Street types spread a rumor concerning "forthcoming huge news" (oh, how they love the word huge!). However, we're still waiting. The assumption that "something is happening behind closed doors" is valid. Albeit, valid as long as the rumor is "valid". So, what did we have here? An uncalled for short squeeze that can only take place in a frothy market, such as the one we're in. Even in a frothy market reality sinks in sooner than later.
Neonode is a fine little company with sweet products. However, it has huge (yes, huge) competitors in a market that is beginning to look saturated. So, the short and and the long of it, is that the risk to the downside is bigger, especially during a crazy run.
It's interesting to try to understand the mentality of the morons. Morons who buy high and get screwed time after time. The basic rule (Buffett) "be fearful when everyone else is greedy" seems to be completely lost on them. How long, morons, before this thing is back own to $6? Another interesting thing is that those morons never heard of this money losing little operation prior to yesterday. Now they hate with venom everyone who says a half a word that may shatter their unrealistic expectations.
We a few days ago we saw a crazy run on another beauty - MBIS, only to get a statement from the company that they see no reason for the unusual activity in their stock.