For goodness sake, read the press release, guys. Stock is selling off because 4th Quarter income projections from AXL fall short of analysts' expectations. Could very well be a case of "under-promise, over-deliver", but for now, we are down.
I'm long, not short, and expecting the uptrend to continue once this is all digested.
I just loaded up..some sell said analyst said guidance for q4 was soft before the conference call..on the call mgmt was laughing at this since they raised q4 quidance. I expect as portfolio managers speak to mgmt today that the stock will trade back up some, given that this mgmt loves to pump it up! Great risk/reward for a trade here.
I hope I did not make a big mistake. I just bought it. I think management owes the stock holders, at least their own people an explanation. Unless this was pumped on the rumers and they just dumpt on the results.
Today's decline appears to be entirely because the High Frequeny Traders(HFT)have been naked shorting the stock all day.You cannot fight them once they start shorting a small priced stock.Believe me the stock will start going up once HFT leave.