To be fair, I saw it too on google finance and marketwatch and also on my mobile app. I assumed it was a glitch though.
I agree with some comments below... The time to short this stock is over. Great job on your trade from the top but at this point you're just as bad as the irrationally exuberant pumpers in the market that declare the sky is the limit after a 150% run.
It's true. It looks like it traded at almost 17 briefly in fact. Of course the price is currently far below its historical highs but I personally believe we've long since bottomed from the down trend that kicked off in 2008. I have the uptrend starting in very late 2011. By your logic any stock that's trading far below where it used to trade is going to zero and I don't think that's fair.
The pumping is expected but the stalking on this board is out of control....
The upward trend from all time lows I mean. If you started shorting at $12 then congrats on your trades.
Well, technically the long term upward trend is still intact even at this price.
I think it just comes down to your time frame. If you're not trading this and will hold until after the final decision in February, I don't see a reason not to jump in within the next few days. Or better yet, buy half now and see if you get to average down. We're looking for a big jump after the decision so, unless you're trading, even 20 cents here or there probably won't be a huge deal in the long run. It's hard not to watch everyday, but that's kind of what you'll have to do. Good luck! DISCLOSURE: I'm long at 2.80.
Agreed. I'm seeing a long term upward trend line from all-time lows in December 2011 that indicates support in the 1.25 range, maybe as low as 1.20 at the current rate. Looking for a bounce off of that. If we break through convincingly it could be trouble.
I always respect when people admit to a losing trade. I'm still holding from 1.95 but a small position. Looking to triple down soon in the 1.25 range. Good luck to you Ben.
Great post, Dogma, thanks. I feel like the warrant value fluctuation and its effect on the bottom line are a catch 22 situation that should be ignored. Aren't the warrants a non-cash obligation? I thought that when the warrants expire, they'd be realized as equity in the company and that 2 people from Lion Capital would join the APP board. Am I totally wrong here?
I think long term you'll probably be fine with this price but if you're trading shorter term I agree with dogma below. Good luck.
Obviously this stock has been a disaster since the earnings report. I personally think the price movement is quite a bit of an over reaction to the earnings news. Shorts are clearly in control for now but it can't continue forever. What are you guys thinking here? Maybe another positive sales report for August will cause a reversal that could make shorts cover and we can head back up? After basing for so long around $1.90 I'm a bit shocked by what's happening here.
I'd like to get some real opinions here instead of the usual nonsense on this board. Thanks in advance. Good luck everyone.
(Full disclosure: long at 1.95 since before earnings. Bought half of my intended position before ER with the intention of buying the other half later depending on the price movement. I'm looking long term here. I'm not a trader. And here we are at 1.43...yikes.)
I think it's actually more like February but we were supposed to hear back from the FDA about acceptance of the application within 14 days which would have been yesterday unless it's 14 business days.