MM said it's going to take YEARS; not a couple. Smoke and Mirrors just like 1999.
I can't believe everyone is blaming Yellin for all bios that went down. They are a scam and all have a negative EPS. You expect to make money on a stock that is bleeding cash? That's why these stocks have 2nd offerings. The only ones making money are the insiders who pay themselves huge monthly salaries and award themselves free shares and sell only to leave bagholders with a loss. Check out the history of DNDN and look at their chart. These bios are a dime a dozen. ISIS-SGEN-RARE-all the same B S.
Listen to the video of Cramer today saying now everyone thinks BABA is not going to go waaaay up as previously forecast. Another China sham.
The reason why YHOO is not going to sell as many shares of BABA as originally planned is because they think the BABA opening is going to be lower than everyone thought? WHAT? Now it's not this big thing? Cramer pumped and pumped this and now he is back paddling.
and everyone's going to win? This hype was the same in the tech bubble and it went from well over to $100.00 a share to single digits. Know when to get out is all I have to say.
At one time there were over 70 listed stocks on the U S stock exchange that were Chinese startups. Diane Sawyer did an article about the fraud in Jan. of this year and said Americans lost billions of their retirement on Chinese coal stocks, aluminum and copper, with no operating mines. Also Duoyuan water was a big scam and China Integrated Energy. All of these got the stamp of approval when listed and all went broke. There was such a big hype about the Chinese economic boom and now the Asia markets are struggling. Who says BABA is going to take off to the races. There are many that got burned. I own some YHOO and am looking forward to our one time dividend but I have no faith in the many Bernie Madoff type fraud stocks that ripped everyone off. I say be careful and if you buy BABA on the day of the IPO, take your profits before everyone else cashes out and you are left holding the bag. There's a lot of U S companies in the same business as BABA so what makes them numero uno? Who's hyping this up to such unrealistic valuations?
Type in after hrs. trading in your Yahoo search. Then click on the nasdaq one. It will ask for the ticker (YHOO) and will show all the trades. They are finished trading now. In the pre market you can tell what the stock is going to open at by going to "pre market trading" and do the same thing. Those trades are open for less time than after hrs. (I think only an hr. and a half) instead of 4 hrs.
After hrs. shot up to $36.89 and quickly fell to $34.58. Talk about manipulation; I'd wait for the IPO and buy BABA instead but get out quick as soon as you see a reasonable profit. I don't trust China stocks. Too many have gone bad.
That's what I do. You have to get 1000 shares and just wait daily for 30 cents. Too volatile to hold. I have traded this 5 times now and the best I did was $750.00 in 16 seconds but the rest were only 200-300 dollars. Not bad for typing. Sometimes I had to hold until the next day though. Oh darn.