Just loaded up more on the dip. What a gift at $15.40
This is typical price action for the situation. Shorts need to get out and can't. Stock up 40% from $12 to $17 yesterday. Some short term traders held positions overnight to see if stock would continue its sharp run. Shares didn't pop right away, so they are selling. Then new day trades get on the short side as the stock falls. It is so obvious.
I am already up $0.60 on my buy today and I haven't even posted this note yet.
I also reviewed all of today's news stories on ESI. Every single on of them had it wrong. All the reports comments were focused on any negative that they could dream up. None of them commenting on the large number of positive developments....private student loan obligation cleaned up, good cohort rate, no issue regarding loan covenants and compliance, excellent results from new scholarship program, enrollment numbers to be + or - 5%, and so on. Smart money sees through this charade and only the uninformed are being fooled on this today.