In 20 yrs of trading-What Merrill did last week is as bad as it gets.
So Merrill comes out and -with the stock trading at 32 and looking weak-ups their 12 month price target from 30 to 35. 3 days before an option expiration. Merrill says its a buy for a whopping 7% return for 12 months on one of the riskiest stocks out there. The real reason? Merrill had to have huge short options at 31 and 30 and used the faux rally Wednesday to give them room to cash in.
EVERYTHING about this stock is a scam-funding, financing,the Street support, their product-everything. The worst part is we taxpayers are supporting this boondoggle. Merrill will never be called on this mes but eventually this scam will end like all the others...bankrupt...just like Obama's treasury raid will make the Nation.