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Bob Evans Farms, Inc. Message Board

  • sanjose18732 sanjose18732 Jun 4, 2008 4:29 PM Flag

    Easy money

    Shorted at $34.14. Wish I had gotten it higher, but this should tank at least a couple points tomorrow if history is any indication. It spiked on February 13th by a couple dollars plus only to give most of it away in a few days. I didn't see any shocking news that would warrant an 18% increase in BOBE.

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    • You are probably right. Looks like a knee jerk reaction - stock up $5 mostly due to a lot of short covering. Earnings were not all that good - revenue growth downright poor - earnings per share up because fewer shares outstanding from buyback and they sold off some property. I think when people take a closer look at the numbers, they will have second thoughts. It took a lot of cash to buy back those shares. I don't see much upside from here and think a retracement is likely just like back in November. I'm not shorting this stock because of the high short interest on it, but I think you have the right side.

    • they will make the price rise to squeeze the shorts

      be careful with this one

      you might want to cover

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