I disagree that the shorts have been on the wrong side of the trade for a year. I think they have been winning for the past year, maybe it is starting to turn on them. Yet I remember back in mid March when the AEO topped out around 17 after rallying, and within a few weeks the stock was back under 15. Which is where it has now rallied back to here, the low 16's. Still going to take quite a some time to get to 20.
This market is rigged, no doubt about it, A piece of #$%$ company like C is trading at half of a laughable book value, then drops almost 10% in a week. Perfect example of the market being scammed by the big players,only they win. SEC IS A JOKE
The shorts are determined on this one, may be awhile before $20. Only red stock on my screen currently, while I am not looking at hundreds, still hard to believe it is negative on a nice up day for the market.
Kind of surprising how long this chitty stock can stay so chitty. What the hell is wrong with management at this bank, Replace em all, bunch of losers. Remember when this stock did a reverse 10-1 stock split at 5 dollars. Now it would be a $4 stock, has lost almost 20% since that reverse split. One of the worst performing pieces of #$%$.
The shorts have had their way with this stock, down again today on a fairly nice up market day, other than a few energy stocks only down stock I am looking at today.
I wrote yesterday, at less than 1/3 of "BOOK" value, if companies don't start buying some of these supposedly weak players, than there truly is very little value in any of these oil and energy companies. If other companies are not interested in picking up assets at less than half price, then the price was way overvalued to start with. Almost 7% down again today, just amazing, after 2 months of steadily going down.
The way the market is treating this stock it sure would appear so. Down almost 8% again today, trading at $8.85 as I type this. Are you kidding me? Priced at about 1/3 of book value. If companies don't start buying some of these cheap companies, then that tells you that there really is not much value in any of these oil or energy plays.