have any idea why this is down at the moment? Is there that much profit taking to completely compensate for what should be a decent amount of short covering? Are shorts getting back in on the uptick?
definitely some shorts covering....little reason to hold the short (other than greed) into earnings when you already got an artificial drawdown from the prescient point article 3 weeks ago and favorable earnings that fly in the face of the article's main thesis are expected....we're still $3.00 below pre-article prices.
so if i follow correctly...since you're getting greedy i should be fearful? ;)
I like GPRO...just haven't decided on a good entry yet
any reasoning behind that...I don't think a 10% increase on in-line earning are going to leave the shorts shaking. I think the short thesis hasn't changed...company has a crazy high valuation even using non-gaap numbers (100 forward P/E, 10x P/S), competition ever increasing from the big boys, GAAP income nowhere to be found....
doesn't seem like a bad idea (even though your trade is already under water). I may make a small speculative short as well (@about 70.00). Just doesn't seem like much changed with this announcement yet we're up 11%, blowing through all-time highs and pretty much at the full year analyst projections. Heck, the wedbush analyst set a $58 price target just a couple days ago for the stock using pretty much all the exact numbers that they announced this afternoon. How are analysts going to possibly raise price targets when their expectations were barely met?
trying to figure out the same thing upstox. The only thing I know for certain is that my MAR 6 Puts are now worthless....ha. I love the headlines I've read so far, such as... "CRM stock rallies as results meet street view"...#$%$?
All the metrics that I can track seem in-line if not below analysts expectations..The only thing I've seen so far is the notion that deferred revenue is up, margins are better, and number of large deals are up...I don't have any numbers for actual comparisons on those metrics though.
Sentiment: generally confused
I was wondering the same thing. They seem like fairly consistent sales of 12,500 share blocks and he had something like 35 million shares, so still not a huge reduction in total shares owned. I only have seen the insider sales numbers from him in the past couple months...does anyone have more historical data on his insider sales? Has the pace picked up? slowed down? Was he selling the same at higher and lower prices?
He's obviously cashing in on his obscene amount of shares but i don't know how much you can read into it as far as his view of the health of the company. I'm still an overall doubter of CRM at it's current valuation. I only have puts going into this earnings report but may initiate a short position after the report.
...because investors are apparently insane. All this company has is sales and they're way overvalued from even a Price/Sales basis. C'est la vie - Wake me up when the world is sane again and I can finally short this one with some vigor.
rgr that...definitely sucks and I know there were many in that position, but from a legal recourse perspective they wouldn't care that investors were artificially put in a tight spot because they were overextended into margin. For every long's sake let's hope this can return close to pre-report pps as quickly as possible.
i think the responsibility should be on the investor to read through smoke screens like this. You can also take the perspective that prescience gave everyone a chance to buy the shares on sale. The best the individual shareholder can hope for is for short/distort companies to be hit with fines and lawsuits that will dissuade similar future behavior from them or others.
well apparently it can move back up with no new news...dont mind being wrong on that point. hope it continues
and look at the volume difference between the streetsweeper short/distort and this one...About 3.5 million shares on day of report and day following this time and not even 1.5 million on day of report and half that the day following for streetsweeper. So, both the total volumes and the change in volume from day of report to next day were quite different meaning this elicited quite a bit more fear, especially the day following the report release.
Yeah, i bought after that one too but this report seems more damning and will need some serious PR to refute (more than the short statement yesterday). Like I said I bought during the upswing yesterday after the company's statement but this pullback from the high 9's midday yesterday to the high 7's today is starting to look pretty dire and didn't happen after the streetsweeper article. Plus PresciencePoint seems to be more selective and exhaustive in their research than streetsweeper (only a few reports published each year).
Need some news to start moving this up again...obviously with high short interest it could move up quickly, but it definitely needs some help
It's starting to look like we'll all be gone by next week...this is depressing and I only have a small position i bought during yesterday's upswing. I'm still seeing some large buy orders crossing the tape but it could just be shorts closing positions and obviously not helping the price overall.
This may be the perfect short attack because when the base credibility of a company is being called into question it discounts any positive news to meaningless...how can one care about anything else other than is this a fraudulent company or not. I'm hoping this gets cleared up in some way sooner rather than later....maybe Moody's or the analysts come out and validate their valuation methodology and reiterate current price targets. This report just seems to call up so many glaring things that it seems unfathomable professional brokerages and rating agencies would have completely missed them....fingers crossed they haven't actually missed anything