Oh, you must be the new guy.
It cracks me up how people go and "play the earnings", they hear the conference call, and even after the hear the call they have no clue if they're sitting on a pile of gold or a stinker. Maybe if you're going to "play" you should know the rules...
This happened last quarter. People here were arguing that the quarter wasn't os great, they sold in AH, blablabla. To be honest the quarter was just like this one, pretty average, the company delivered, but nothing extraordinary.
The stock popped 11% the next day.
I don't know if it'll happen again, but you should get a habit of studying prior patterns before making judgments on "over-reactions".
I made that mistake with Amazon. I had a bunch of shares at $94 and after hours it headed over $100, so I figured it wasn't going to go much over $10 a share and sold at $103.34.
Of course, we all know the story of what happened thereafter. The stock went to $120.
Made money, but not nearly as much as I should have had I been more patient. Lesson learned.
I cost averaged down to $11.58 but I am still happy there. We were sitting stead at $12.50 before the "downgrade" came through. I think $13+ around the COD launch with very possible. After that we will have all the hype once the News networks learn about the game. Followed by Christmas, and earnings posted again in FEB.
I think I will ride the wave until FEB, after that it's anyones guess. I'm liking ATVI right now. Screw Cramerica.
I sold 1/2 also. Revenue was below market, typically seems first reaction is always green thats why I like to be infront of my computer when earnings come out.
The thing I'm more afraid of is Kotich bashing this stock. Last time he talked he was scared consumers wouldn't purchase video games I'm afraid of a repeat. Kotich is why I'm selling I know he is going to be talking in 3minutes.