It is interesting isn't it.
I've had a short position on this stock for well over a year now, so it's about time it comes closer to earth.
All stocks eventually trade at their intrinsic value, and this thing has a long long ways to go yet.
It's a good business, with a good product, with well paid management and underpaid shareholders.........but the biz is worth something south of $100 and it will get there, when it gets their I'll sharpen my pencil a bit more. It will probably be quite awhile yet.
It is amazing is it not how the Wall street lemmings work. Kids, albeit smart kids, become ANALysts with very little real world business experience and often lack common sense to a shocking degree. Perhaps its too much rote book learning and not enough individual thought. In any event we see this time and again, lemmings following each other into this or that hot sector/stock. The stock was overvalued at $100 but when it hit $180, well that was just ridiculous. So obvious to anyone with a brain. I am starting to think I am going to give up going long because I'll never have the insider information most all of the instiutions use, but a man can surely see when something is stupidly valued, as CRM still is. I agree to re-consider this at $100 but until then really nothing to do but wait, collect, and watch the explosion. The fuse is lit and finally people are waking up. I doubled down my short position today.