.. after closing at 12.5 yesterday. Expected some profit taking... but 15%? Don't tell me some dude giving a neutral rating is worth cutting down 1B$ in market cap in one day. I guess we'll test support for the 1000th time.
Or is it simply EVERYONE is range-trading more and more so this thing will just cycle from 10.5 to 12.5 faster and faster until we hit both targets a couple times a day?
Yeah, even I think that HUGE gap down was just crazy, and you know I have no problem shorting ATVI every time it hit $12.50 as a trade. My plan was to short after the open as of last night, but waking up and seeing that gap changed that plan. Also scared me out of my usual long at $10.50 position. Longs got the shaft here, as I don't know how you can come out and say "Guitar Hero sales slow in October compared to last year" when you're basing sales data on only 6 days of the month. It really just goes back to ATVI being lumped in with every other company that is similar.
If this opens on Monday under $10.50, or breaks there, I think it's gonna get ugly. That gap maybe have messed with the recent trading range, just going to have to wait and see if/when this makes a new top and bottom.
Honestly though, your idea of it just running up and down from $10.50-12.50 everyday would be damn awesome! Then we'd all be making easy money! :)
Yep, explains why their games are on top of the Amazon lists. The consumer doesn't care, the NPD numbers were a hoax and the world will end in 3 days. On a positive note, certain shorts would be gone too.....lol.