Previous Pump and Dump Action
May 18th $38 Per Share
May 22nd $31 Per Share
July 25th $29 Per Share
July 27th $23 Per Share
Act like the action today means anything. All this did was delay the inevitable and just means the short term drop will only be to $17 instead of $15.
$1 drop today, $2 drop tomorrow, $3 drop next week, $3 drop in December.
Then as it withers away to nothing in 2013 and 2014 you will be wondering what went wrong with the IPO and wondering why you ever bought stock in a free social media site.
I can't wait to see the SEC filings in the coming days when you see the people dumping. Then the panic will start when everyone starts questioning why so and so dumped so many shares.
And this was all with NO news. This is the kind of thing that happens on blowout earnings or buyout rumors, not out of the blue just because there wasn't massive dumping after the lockout expiration. Maybe this is when some institutions decided to get back in, when everyone was expecting it to go down, and triggered a short squeeze, but it really looks more like a setup than anything sustainable. We'll see...
Goldman Sachs and Morgan Stanley made Insiders and Venture Capitalists rich today while leaving you retail longs bag holders. As the folks in Palo Alto are unwrapping their Christmas presents in their million dollar homes I'm sure the first people they think of will be you eating cold turkey sandwiches and unwrapping your presents from the Dollar Store.