Although a certain degree of manipulating goes on in the markets every day, I usually take issue with the longs who automatically blame manipulation when one of the stocks they own tanks. You know, the same people who are smart investors when their stock goes up, but blame someone else when it drops.
Starting to wonder about this stock though. Down big yesterday on the 8k news, but up big today. Suddenly yesterday's news wasn't bad after all?
I know, it's a small float, small cap volatile stock to begin with, but I own or track other stocks with similar profiles and none of them are as crazy as this.
Anybody have a take on what's happening here?
Yesterday was a perfect storm. Huge down day for the market, newly released 8K, the significance of which nobody really understood, and prior downward pressure on the stock led to a selloff. People see it going down and think they are missing something, so they sell. Which leads to more declines and more sales.
In the end, day to day stock prices are mostly psychological.
Now that people see CPBY rebounding, everything must be OK, time to jump back in, which leads to higher prices and more jumping back in to ride this baby up.
I think you hit the nail on the head, manipulation. I am not begining to wonder ow large a postion the two firms had that set the $10 target, there was a nice run right after the changes. Remember I did state $10 was too hight that $7 to $8 was about right for the next 12 months with upward growth after that but we would see swings, jsut as we have. I do not think it's a dog, China is a risk play but not as bad as some would like us to think.
I was wondering if it was options expiration. I think the 8k info was already baked into the stock. Earnings were solid, accolades about fastest growing etc are good, contract win announcements are steady. Nce rebound today but would like to see high volume on the upside. glta