Of course, there are reasons why they are bearish.
Why dip your toe into RAX when there are thousands of other better stocks/investments out there.
S&P 500 and the Dow are at all-time high, every company I bought is going up. But RAX is continue to down hill. From technical stand points, any stock retract 33% and then resume upward trend is healthy. But RAX is now down more than 50% from it's peak. This only indicates RAX will continue the down trend. I've seen thousand tech companies in this similiar pattern over the past 10+ years. During the tech bubble, only the strongs survive. RAX has no chance to compete the big boys: Amazon, Oracle, Google, and Microsoft.