It's just players playing. The market is legally rigged, and today's response is following suit. With a great earnings report (like today's) swing traders and mo-mo players will sell, figuring "this is as good as it gets - I'm out!" There is also immense pressure from options players, manipulating the share price towards one number or another, probably why we've seen quite a swoon in the share price the last couple weeks. It's all #$%$. I'm happy to see that the share price DIDN'T gap up 5-10% this morning, because then you would see more complete bull#$%$ in the form of a fat sell-off. I'm enjoying the 2% gain today, and look for much better in coming weeks. BX rocks. It's the market that blows.
As it always does, it takes institutional investors to add or open new long positions. This stock has a huge float of shares and because this is not a household name, the price is dictated on how these large funds perceive the data and more importantly perceive how the company will perform in the future. Remember, earnings are backwards looking and large institutions need to see a brighter tomorrow. With that said, I am hoping there will be some very upbeat and rosey guidance given during the conference call.
Bigsupporter here for BX..No Problem.. I never like seeing gaps.. so OK to see it come down to fill the gap opening... should close better.. with 3 day holiday it could influence the trading today.. GREAT REPORT