And still at around $5 this morning, so that seems to be the floor--with futures up big should go a lot higher.
Was wondering the same thing myself. Was tied up at a meeting till 7, but saw it traded around $5 for the final hour . However, I think tomorrow you might get a serious squeeze. Today's rally in the market were the larger stocks (Russell Stocks didn't do much). It's common after a lot of selling that the bigger blue chip names go on the first day of the rally and the growth and Russell type stocks start getting picked up the 2nd day. So this could help the squeeze. Maybe set it at 6 for a good chunk of your holdings (or 5.99) but save some shares for a more serious squeeze. About 2 weeks ago I was playing VLTC and it opened at around 8.50 or so but the squeeze brought it up to 13.65 that day as it's hod (to put this squeeze in perspective, it's back under 7).
I lose? Richard, are you high school? I said it was up 8%, and 2 hours later it close up 6%. That is pretty damn close. But I lose because I didn't nail the close to penny? It would only have needed to finish up 2 more pennies at 1.29 to have an 8% close.
It appears at this point the 8% gain is going to hold. It hasn't had a gain of this magnitude in a single day since May 21st. It also hasn't had a 1 million share volume day since April 29th. So a huge day on huge volume---from a technical point of view, this is as good as it gets in terms of a turning point on the chart!
Just bought some myself. If you look at the trading history over the past month or so, it's a safe bet to trade back in the $5-$6 range in the short-term, and just 6 weeks ago it was trading around 7 bucks for about a week as well.
Eric, if someone wanted to "throw in the towel", why would they do it one week before earnings? That seems really stupid to me---the stock has declined from $3 to $1 in the past month in anticipation of poor earnings--so it's a can't lose this quarter--either a) earnings will be better than anticipated, or b) as expected, and already priced in. Also, how many new shorts can join the party--think of it as a risk/reward---they can only make a buck max, but they could lose their shirts. There are many other stocks they can short and make a lot more than 1 dollar.
Okay thanks. As long as there is a valid reason---lately it seems to drop a dime or so on no news at all--those days really annoy me. The 3 months since the last earnings call seem like an eternity---wasn't it trading close to $5 just one quarter ago?
Why is it down nearly 10% today? Was there some negative news released this morning? What has changed fundamentally since it was 3 bucks last month?
Well then what was up with that huge day during the middle of last week, when it was trading over $5 on huge volume?
Never mind, rallying now---about half a buck above it's low of the day now. Must have just been getting hit with everything else this morning because of the Apple and Microsoft earnings.
On Friday it hit 10.49, and then on Monday got to 10.76 at one point. So a "higher high" if you will. Besides the technical aspect, what has changed fundamentally in the last 48 hours for it to drop from 10.76 to 7.26? This is an insane 33% haircut and I didn't see any negative news released. Did I miss somethiing? Definitely way oversold, no? If I am patient, will it be back over $10 by next week? Thanks in advance.
With Dow down over 200, it's looking pretty damn good relative to the carnage everywhere else in the market (even at 7.90). Would be surprised if this puppy really takes off once the market recovers (possibly as early as tomorrow).
A month ago (June 9th--June 17th) it was trading over $4 for most of that time, and even hit 4.36 on one of those days. This was long after the news on the secondary came out. So what was the specific devastating news that came out since then to caused a haircut of over 50%? Did I miss something?
Curious to see how earnings will look this quarter--as soon as the revenue flow starts coming in with the new Atmel product, it will reverse in a hurry. What's happening now is that longs don't want to buy more until they actually see the revenue stream, so shorts are just jumping on the bandwagon--so more sellers than buyers at the moment (albeit on very light volume).
Yes, when got back over $5, I doubled up my position. For any newbies that might have just came on board over the last 2 months, this puppy traded up to 10.83 on two consecutive days during the 3rd week in May. So could be an easy double in the short-term.
Just curious, what would stop Kodak from coming in and doing a hostile takeover now for $5 a share? The funny thing is if that were to happen, both longs and shorts would be #$%$, as most longs are in at a much higher price and think the value should be much more that $5.
The interesting part is that a lot of companies decline (or even tank) on a day when their CEO says they are resigning----the street obviously loves this news (as you spelled out, because of what this implies).