Extreme Overvaluation Keeping SPLK Share Price Down
Despite a full-on bull market, beating on revenue, earnings, bullish Q4 forecast and massive short ratio, the share price hasn't budged. Splunk shares should have shot up 15%. WorkDay had the same situation earlier this week, and their shares are trading down 2.5%. Why? Extreme overvaluation. As the 'earnings traders' move on to the next opportunity, be prepared for Splunk's share price to continue their downward trajectory.