Guidance from a CEO may lack objectivity or more. As in 2000-2001, will some company insiders be among the last to question viability? CRM could survive and it could even be purchased by another company, but at far lower prices than it's trading at now. A value stock that people here scoff at now could end up being a purchaser, but only at half the current price or even lower than that.
There were no earnings. Even the non-GAAP "earnings" barely deserve 50. The bounce that occurred before the report went higher than warranted by the results, IMHO. I just replaced part of the shares I'd covered lower. If others do that, too, that means downward pressure, not upward pressure.
The message is in the headline
BTW, value stocks have boards that allocate money for dividends and have additional funds that bring flexibility. Some have bought growth, but haven't considered CRM worth the price. CRM is in debt and wrests value from outside investors to pay excessive money to insiders. Even the "cash flow" is manipulated because shares of stock insiders are gifted and then sold at market prices appear in the CRM financials as "cash flow."
The "value" stocks some bash have been spending money and changing their approach in order to wrest more of the cloud business. (Beyond that, some think the ceilings on the value of "cloud" are lower than they thought.)
Though there are likely no buyers for CRM anywhere near this level or at any other level beyond half (or even less) of CRM's current value) some would say that such a bombastic CEO has no interest in being anything but CEO of his own company.
Besides the value companies (formerly growth stocks 15-20 years ago), robust companies such as GOOG are in the arena. AMZN is also in the cloud arena, though AMZN has some financial issues.
The two million shares were for the quarter ending on March 31. There was some heavier than average volume when the stock price went down at the end of April. Who sold those shares doesn't have to be reported to the public until August.
What's your point? It's not growth when a 14 year old company doesn't have GAAP earnings. It's not growth when established companies who have money to compete and who are working to become growth stocks again are competing for customers.
Today may have been a short squeeze day, especially since it's a Friday and opex. Even on such a day, pumpers couldn't push up the volume. Over the past few weeks, the heaviest volume days for CRM have been down days.
Also, the insider buy listed appears to be the same 200 share buy that occurred over a year ago, around the time of the 4 to 1 stock split. Listing it as something that occurred during the past 6 months (as posted on the site) may be an error. I haven't seen a report about whether those 200 shares are still held by an insider. Other shares acquired by any insiders ( e.g. "equity awards") were given to them at the expense of public longs.
Shares that are acquired by insiders and then sold at market prices appear as "cash flow."
CSCO's report and price may be occurring due to a sizable stock re-purchase. A stock re-purchase requires significant cash on the balance sheet. They also pay a dividend. Also, BOX's deal doesn't apply to other companies, especially not to other companies that are serial acquirers at extended prices.
Is this a ploy to get people to buy or cover. Actually Cramer was enthusiastic about CRM when it was in the 60's. Now he is willing to admit it's having a pullback, but being short is still different from a pullback that will morph into a long term long. CRM is not just going through a short term setback. Based on current and long term business plans and competition, CRM is in a trajectory that will take it much farther down than a pullback to around 50. Some have compared CRM to stocks that have collapsed. Cramer hasn't. Thus, being against Cramer on CRM doesn't mean buying when he says to sell it.
I believe you are referring to the 200 shares listed as a purchase for over a year. I think that statistic should revert to 0 12 months after the purchase. I believe the 200 shares were purchased when CRM had a 4 for 1 split. Even if those 200 shares haven't been sold, I don't think they are supposed to be listed as buys after 12 months have elapsed since a purchase and report of the purchase.
CELG is about 10 points above where I closed out my short position. This morning's bounce is tempting,
Exactly!. I covered part of my short position on Friday and added it back Monday afternoon.
Though CRM remains above where it dipped on Friday, it's down while stock averages are up today.
Who trusts Citi to get it right and communicate what will happen? IMHO, it's like throwing darts and communicating what might happen. I'm neither long nor short CELG stock, but just commenting after closing out shorts in recent weeks.
2 million is a sizable number of shares, even though it's a small percentage of their holdings. It will be awhile before we find out what holders sold and/or shorted on the day that pressured the stock price down to under 49.
Trading volume swelled on that down day and others.
Do you have an explanation for why the list is shown that way on Yahoo.com?
Also check the one month and three month charts.
Earlier I referred to institutional selling by the end of the first quarter on March 31, 2014. Also, tThere was a significant price drop on an April Monday morning.