CREE another stock big money targeted short before earnings.
They were already short so going down no matter the earnings. Usually ends up becoming very, very oversold before they cover. Continue to see selling and shorting in abundance with no let up. They will take it lower as no one dares jump in front of them. How low only they know. Will not be moving back up until they do some covering.
Appears a few shorts covering and some margin calls so there can be some buying. Has been consistently making lower highs and lower lows along with the new 52 week lows. Yet the market is still near multi year highs. One needs to be very careful in this market. We have not had a correction in this market yet and find CREE making new 52 week lows. Maybe the shorts will take a few more profits soon and the stock can move back up some. For some of the hurting longs I sure hope so.