They have shares to sell from a client. They sit there refreshing on the offer covering their brokerage's shorts.
They they remove offers leaving small lots and bingo 35.02 to 35.53. Department stores that missed horrendously well back in the green. Be careful out there gang.
BAC downgrades, shorts a bunch of shares and SNDK folks decide that they are better to take profits and run as the market could be in for a big correction.
BAC makes a lot of their money trading and investing. They often have an underlying reason for their recommendations. Could be to take it lower and continue down or drop and load up. That you do not know until after the fact.
Appears that I was a little premature in my buy. BAC downgrades today now that it is this low. Will open lower than the close. Wall street may be going to take this market much lower and consequently WDC would also going lower.
The other big hurt is AMZN and other on line companies. Folks buying so much in that manner. Retailers are finding the competition has become somewhat overwhelming.
Shorts are definitely doing that. Do not know how low it goes but appears it goes lower. Continues to make new 52 week lows on good volume and the market has not had a correction. Bad sign for longs as it appears that it will keep falling. Had a little wiggle up the other day just to confuse a few people and then continue right back down. A lot of SNDK holders taking their gains and selling WDC.
Department stores just getting crush. They are all missing. The rich don't shop at these stores. The other 99% have had to cut back so there is a lot less shopping.
Folks short the stock because there is no one to buy it. The bids are shorts taking profits.
When it gets to 2 dollars they will do a reverse 10 for 1 split. Won't back it back to 30 but will make 20.
Definitely has been a strong sell since 87 in August 2015. Now it is looking like we could begin a downtrend in the market so looks like it goes lower.
On April fool's of 2003 endp was a 16 + dollar stock. You know the price now as it continues lower. No buyers. Mostly shorts doing some covering and going to another trick pony. I am not dreaming about the much higher prices folks state are coming. My question is more regarding how long can they stay in business?
They did a secondary for over 4 million shares at 83.25 last JUNE. Now the stock is at 15.75 and still falling. How can a CEO even pretend that he knew what he was doing. This was total greed that is going to result in incredible losses for people. Who is going to buy into a company with this kind of leadership? Traders will play around with it and it could go up to 17 or 18 but most of the folks owned this before last Friday. Have my doubts that it will ever see 27 again.
This stock will not see 35 again. Folks have been hood-winked again. The market is just beginning to come back to some kind of normalization in prices for some of these overpriced stocks. Stocks like these that wall street has already made mega millions end up floundering around. The pharmacy sector has this happen on a regular basis. Insiders were bailing long ago and you will not see them getting back in this boat. Too many leaks.