I got 2,000 shares early today and had a profit of $1,500 at one point only to see it leave and put me down $2,500 later. Guess I got too greedy and should have took a profit. Should we expect a rebound tomorrow or more of a sell off?
That's a tough one, isn't it? Hard to know if all the bad news is now priced in...At some point, one would expect that this stock should rebound. Pretty dismal outlook by company, but price drop does seem to suggest all bad news accounted for...
I'm just looking now, so I can give you my take. I like to buy .... over reactions if the story remains intact. Two things here make me wonder with the biggest being the recent acquisition of another company. If a high growth company sees greed in it's own future, it doesn't look around. And statistically, no matter HOW great the target company, integration is an art that seldom goes smoothly. Especially in companies with extremely intelligent people. (egos)
What you REALLY have to watch is that you are at the bottom of a 2 year trading range in a stock that is HEAVILY laden with high growth institutions. (meaning they will be ultra quick to pull the trigger.)
" IF " this thing breaks $20, (and the market MAY be more of a reason than the stock itself) it will be a blood bath to $5 before the smoke clears.
I think I am going to watch this for now. I would rather buy at $25 on the way up or after the market corrects assuming $20 holds.