1.7 million shares changed hands today with no more than a 3% swing top to bottom. We are now at over 30% of the float changing hands in the past two days. Interested to see the next update on institutional ownership.
Could see this easily swing some more, but my guess is the volume drys up pretty quickly next week. Obviously analysts need to lower estimates for next year, but they may more or less maintain 2013 and keep price targets intact. Depending on how supportinve they are of the idea that the first half miss is a blip may not go over all that bad. Then again if they throw a fit and figure they will revisit in May...
Interestingly some of the $30 calls expiring next week changed hands today and had a $0.05 bid. May just be a call writer want to close out the position, but talk about taking a flyer!
Not sure about huksters, but yeah, not sure the business model makes sense anymore. There was a time when it was more respected and better compensated to be an analyst than to be in a hedge fund. Now analysts hope to be respected enough to be able to bring a few billion to a hedge fund.