cooked the books! restating earnings is never a good thing. I wouldn't touch it with a 10 foot pole and feel very sorry for the shareholders. PEP is bad enough after earnings but at least they didn't miss or restate! Can you imagine where we'd be? ouch
So........DMND is held heavily by institutions and insiders. It is held so heavily that when I look at the book value,then the measly cash and the reasnably sane shorts, mathematically called for insurance collars, the 55% short interest makes sense.
Add to that cooked books and it makes me wonder how DMND has avoided bankruptcy and not if, but which institution(s) have been complicit and co-milked this company through the back door by way of stock.
I'd like to buy here and beat the short squeeze but I can't see this stock being worth $35. Never mind more than that.
It looks like to me that this stock has been over-priced for years. I have no reason to trust that it is even worth it's stated book value in the low $20's.
I think the stock belongs lower based on it's situation. I think telephones rang on desks and $23 was temporarily agreed upon as a stop, but I would only go $18.00. Then let the shorts kick in.
Right now these institutions are the shorts. They will figure out what this thing is worth and take the price where they decide to take it and either go up or go down. They have a choice to make and are colluding now.
I can't buy here at this price and I'm not sure if they can afford to pull the short trigger anyway. It depends on who's holding the put.