Traders taking control of price movement with crazy swings early on and then lame 1/2 cent moves in the late trading hours. I've had enough of this roller coaster for now. I don't feel comfortable checking it every hour.
I'm not a long - I actually bought on the dip to 1.96 and sold at 2.03. Pretty pathetic I know. Watching these wild swings, it seems like you don't know what to expect.
Still too many unknowns to feel comfortable - that's why I sold today.
Company's response to the attack was pathetic. Seemed like more of an acknolewdgement that there is a problem but no denial or opposition to any of the claims that were made.
Then you have the four lawsuits currently in progress. These will take time but could be nasty if the financials didn't properly reflect or note related party transactions. Could cause a restatement or worse--a halt or delisting who knows.
I really wish all strong longs who held onto their shares the best of luck. I hope the shorts and this stupid "Varient" person/group or whoever the hel-l it is burns for what they did. It's funny how weak longs sold on the news, but when an industry analyst comes out with a recommendation report on a stock no one listens. Go figure. That's the society we live in folks. The bad news always outweighs the good news even it's coming from a non-credible source.
Top Institutional Holders Holder Shares % Out Value* Reported VANGUARD GROUP, INC. (THE) 3,443,537 4.50 13,257,617 Dec 31, 2010 SAM Sustainable Asset Management Ltd 3,440,000 4.50 13,244,000 Dec 31, 2010 Invesco Ltd. 3,226,566 4.22 12,422,279 Dec 31, 2010 BlackRock Institutional Trust Company, N.A. 2,150,327 2.81 8,278,758 Dec 31, 2010 BlackRock Fund Advisors 1,609,830 2.11 6,197,845 Dec 31, 2010 Global X Management Company LLC 1,365,521 1.79 5,257,255 Dec 31, 2010 AQR CAPITAL MANAGEMENT, LLC 1,281,500 1.68 4,933,775 Dec 31, 2010 FIRST TRUST ADVISORS LP 1,274,206 1.67 4,905,693 Dec 31, 2010 STATE STREET CORPORATION 1,164,463 1.52 4,483,182 Dec 31, 2010 MASTERS CAPITAL MANAGEMENT, L.L.C. 1,000,000 1.31 3,850,000 Dec 31, 2010
I sold today today also, for a small profit. I am not satisfied with Mr. Fu´s response to his stock getting cut in half, and the balance sheet and growth here just seem to good to be true. Given that is legit, where we came from, around 3.50 would still make this company CHEAP, and nothing is cheap in this overextended pig market right now.
I´ll play this when and if I see the shorts getting burned, with my finger on the trigger. Not risking my capital here. Don´t want to wake up on monday morning and become another bagholder.