Ok...I took a small hit in the matter of 30 minutes. But got out of VJET due to the citron hit article. I suggest the rest of you do the same until the smoke clears. When the SEC inquires about something...it isn't a good thing.
I haven't seen a trading move like this in a long time. Someone remind me again. Can you short an IPO? Is this simply shorts piling on? Three days of 5+ million trading volume. I think I'm changing my strategy...instead of buying a falling knife...I think I'm going to wait until it breaks over $50 again. Because something is not right in Denmark....or Germany that is. The amount of put buying must be tremendous.
I'm watching the other stocks in the 3D sector...they are down...but at least stable.
Yeah I don't blame ya to wait for $47 if it comes. I am slowly building a position in this area...wow, I just got some in the $48's! because I don't think I've ever bought at the absolute bottom. But if I'm within a few points? That's fine by me. There is enough interest in this company that I can at least see a floor in the upper $40's
What is fascinating to me is that in the last 2 days and today the entire float has been traded. That looks a wee bit fishy to me. Too many sellers and not enough shares to sell! One of these days when it does finally goes green, I can see a fairly big pop from it because I don't believe there are that many shares out there. The shorts are definitely in control! Just hope they get overextended.
I'm not a very good bottom picker, but I'm pretty good in guessing the bottom within 10% of itself. In other words, while I can see a low of $48 from here, if it doesn't fall that low, I'm not going to sit on the sidelines. $52's seems like a fair post earnings price for the long term, and VJET has fallen more %wise than its peers in the past two trading sessions.
VJET currently has a sales force of 25 people and they are expanding sales with IPO capital. 1/3 of its sales force has to simply sell one printer (and/or one parts contract) in the next 12 months and VJET will far exceed analyst expectations.
If you believe 1 out of 3 VJET salespeople can sell one printer worldwide in one year, then this is your long term hold. It doesn't take much in sales to get impressive net positive earnings as we have just seen last quarter where they barely sold anything pre-ipo in Q3 and showed an EPS of .11. Most of their sales are done in the 2nd and 4th quarter. This is the 4th quarter.
"The Company intends to use the net proceeds from the offering for the expansion of its on-demand parts service center in Europe and the establishment of new on-demand parts service centers in North America and Asia; research and development and sales and marketing initiatives; and for general corporate purposes, including, without limitation, potential acquisitions."
Is $52 the low? I haven't the foggiest. But I believe value investors are starting to take a look after this big pullback.
I normally agree w that too. Long on LULU (Lululemon) which filled a bearish gap recently. So I'm waiting to see what NKE does in respect to the gap. That said....if we are ALL waiting for the gap, that may be a bit too bullish for the gap to fill.
I'm not sure the market is going to be kind enough to let us all jump aboard their great earnings news back at $70. And NKE just announced an investor conference next week too after the close.