You must be talking about ETRM, which I touted when I sold my CYTK right after the R/S. An almost 40% gift to the board since that time while CYTK has fallen 46%.
Price target means NOTHING. The stock market is full of fallen angels selling greatly below their optimistic target prices.
Just remember what happened to ARIA can happen to CYTK. The Market is a shark tank and will devour CYTK at the smallest misstep. Disclosure: I'm all in on ETRM.
Many many small biotechs and medical device companies are getting slaughtered today, but ETRM is holding up. A dirty secret in the Market is that algorithm trading has deprived many small traders from selling into strength on one stock and buying into weakness on another one. The hedgies and HFT desks trade simultaneously in a basket of stocks and many times drag down good ones with the bad.
So a scam is a product that has a high probability of being approved by the FDA? If you had listened to me a while back when I first recommended ETRM you would have a 20% gain instead of an additional 20% loss.
aecooter: YOU must have failed economics 101. It is much easier to obtain increases from a lower base. CYTK priced out 90% of the former retail owners.
aecooter: A little math lesson-it takes a 6 cent rise in CYTK to equal a 1 cent rise in ETRM. Blum effectively killed a potential multibagger with the excessive 1-6 R/S.
I sold my 4100 shares today with a small profit. It is almost always suspicious when a company starts to issue cosmetic press releases, trying to pump up the stock price. I would rate the chances of a R/S at 70%.
insidedaytrader: No, I do not short or trade options. I took a nice profit with CYTK @ 12.15 the morning following the R/S. I am now mainly in ETRM, avg cost 1.18
When CYTK sprung its sneak attack R/S apologists on this board argued the increased institutional ownership would power CYTK to new highs. I correctly pointed out that the high R/S stock price would give powerful ammunition for shorts. Pumpers forgot the 1st and last maxim of Wall Street: They play with other people's money INCLUDING YOURS. While some of you have had to cancel vacations and big-ticket purchases due to CYTK's cratering, the Hamptons crowd and Blum & Co. merrily feast as usual.
The old rules of the Market are passé. Robotic trading algorithms look for profit skimming opportunities both long and short-I hated ETRM's kick in the butt today; however, I have seen way too many small stocks shaking out the weak hands only to see subsequent strong upward movements.
tlm: Today's markets are controlled by computer trading programs that aim to harvest daily profits. The old way of valuing companies is dead. The Market is a rigged casino.
Pembroke: You do not understand that mathematicians program in MANY head fakes both bearish and bullish. The old chart analysis is virtually dead. Look at stocks like GNVC, price all over the place. Black box trading systems harvest daily profits and send out a myriad of false signals.