Well, what do you call a free fall? It did take 2 months, and it was steep at first and slowly stabilized, but it did fall for something like 35 of its first 40 trading days.
Yes, KREM is nowhere near as crazy as PALM was, but it is overvalued. As for it climbing in a declining market, PALM was up today also, so that goes to show you how anything can happen in a short time frame. It is still down where it ended last week though.
Right now the retail dummies are all trying to get part of a hot IPO, plus KREM is getting all the glowing press from the underwriters. My favorite was the "buy" rating on Friday from the lead underwriter, with a 12 month price target of $45. It was frickin' trading at $45 for crying out loud! Since it is well known that analysts never issue "sell" reports, especially the guys who brought the girl to the dance, one can only read between the lines to see that he was somewhat taken aback by the runup.
I don't know when reality will strike, but I think the guys on the short side will win in the short term (next six months). Over teh very short term and longer term, anything can happen.
Not to be nasty or anything but, for my education, PALM went from 165 to 25 in a free fall as soon as it peaked. KREM is showing no signs of falling off a peak by continuing to climb in a declining market. What accounts for this?
My experience with these boards is that the bashers have an agenda. That is to get the long stockholders to sell at a lower price. Then they disappear as the stock goes higher because they got what they wanted. I'll sell when we get to $80 or so. Insiders still can't sell for about 60 more days and Morgan Stanley will pump this baby up over the next two months by my estimate.