I am not so sure. Yesterday stock should have recovered at least 50% of the loss on Thursday.
1. The shorts, hedge funds and crony media have launched a smear campaign at a scale that is never seen before.
2. In January, I was expecting that media and analysts would be cheering and supporting what Blackberry's enormous courage and what it had been able to accomplish against two behemoth Apple and Samsung. Instead, exactly opposite has happened. Blackberry gets ridiculed for every small misstep. All the accomplishments are ignored. It almost looks like people in US want Apple-Samsung duopoly.
3. This company is about Technology. It is not big into Marketing nor it knows how to deal with vicious wall street. How can a tiny profitable, company with 7B market cap half of which is cash, can have such a gigantic short position of 160 million shares? It is because shorts know that the stock is easily manipulated.
4. The institutional longs are not very supportive of the stock (probably because they are shying away because of 1,2,3 so significant short covering never happens)
I certainly hope it does. I have been with Blackberry through thick and thin and am currently in the red. I do believe that BBRY has the right technology, the right game plan, and the right people at the helm. But lately my faith in any company being able to survive this level of manipulation is starting to waiver. When you look at how government and big money has manipulated whole countries and gotten away with it, how does truth stand a chance? Even the organizations that are in place to protect the public are corrupt and are often staffed at the highest levels by the manipulators. I am not talking specifically about securities but in general, so why are securities any different? And the media? Don't even go there...
I apologize for the negativity - I am LONG BBRY, but am getting fed up with the BS that keeps a great company down. Why Americans would not want competition simply behooves me. Competition brings out the best in innovation, offers consumers (this is difficult - CHOICES), and forces companies to differentiate themselves on things like customer service. And it creates jobs. There is nothing good about a company failing so why cheer on and celebrate its demise? Oh, its only about money....
Yes it could and would see those 'sunny days'. They just have to perform and show improving sales and earnings every quarter. It might take a few quarter to see a trend line but it will come. And time like this when abnormal price swings are happening, trading in and out can be profitable. I usually stay away from margins, and trade half of my holdings to cash some profits and buy again on the down day. GL.