With the $38 target by a co. (Pacific Crest) that has vested interests in BSFT, DUH , they are "co-manager of the secondary offering", they dont even try to be subtle about declaring this as a pump & dump with a made-up target
They might as well just come out and say, we Pacific Crest have such vestes interests in seeing this rise and since we ourselves are managers of the secondary offering of BSFT, ok lets have a $38 target for BSFT now, lets PUMP PUMP PUMP
Anyway, you gotta realize 2 things:
1. This is a blatant PUMP & DUMP 2. We are still in PUMP phase, so please keep buying, BUY BUY BUY. Daytrade it when you make good money, do NOT hold it, then buy the dips and do it again
Pump in progress....until it reverses to Dump later on this quarter or so, keep daytrading or swing trading for now
you're right, they might get it to $40 so they can get their clients to those levels and sell their own holdings at the same time. Its easy to push this thing up for them. Low float and low volume and shorts that are stuck int he low $20's Perfect recipe for them to squueze them out and bring this over $30 easily. I guss Im stuck here on the short side in the mid $20's but now realize this was a mistake. This market doesnt care about multiples and valuations anymore, like a late stage bull market (as we had during the .com days). Looks like to make $$$ they will pump any tech stock at this point.