After all this selling they are still lined up on the offer giving these shares away. I can see mutuals that had to sell. They have taken their huge losses now. This can only be the manipulation of the big money that does not permit it to go up as they are short. Validates why there is no short squeeze. This has to be so painful for those that purchased at much higher prices. These guys are so greedy. They could let it go up a couple a dollars a day for a few days and still make hundreds of millions with those shorts.
That is a bit of uncharted territory. Does look like it will go red soon. Wall street did choose this stock to make a lot of money shorting. Longs are not going to be getting positive returns for some time. Wall street will need to cover first. When it is wall street that needs to cover there is no short squeeze.
Every report this morning from retail, inventories, capacity utilization to manufacturing were negative. GPRO went down and the rest of the market went up. Must be saying no rate increase on Thursday.
That rumour was out last week and look how much it fell. Stock up with a little bounce for shorts to take a huge profit during the first half hour. Since then they have had a few more retail folks buy while they short again. They who normally take stocks up(wall street) have went short. There are few real buyers because wall street is not long. Those buyers this morning were shorts covering. They are not holding stock to sell. Bunch of folks doubled down this morning and are now down more. This is the same thing that they did in 2000 and 2008. This is 2015 and my goodness we are getting the same thing. I remember in 2008 people screaming when they took DEERE down week after week from 90+ to 20+. The bottom was in at 75, 65, 55, 45, etc. Was the stock a 20+ stock. Absolutely not. But wall street was short and making a bundle. Wall street brokers are still making over 100 million a day trading. The difference from the last number of years is that they are making a lot more short. As I have been typing I see they have dropped GPRO considerably more. GLTA
Some real buying and some shorts covering. Volume has let up and is making lower highs and lower lows on the daily. With the huge loss this does not appear to be much of a bounce. Still good volume on the offer and not much movement up. Will be interesting to see if it has already seen the high for the day.
Appears that it is going lower. Interesting how selling volume picks up as stocks get near 52 week lows.
Do not think that they raise interest rates but it appears that fear is entering the market. A lot of folks are unloading their stocks and waiting for another day. With shorts jumping on certainly exacerbates the downward pressure.
There are no real buyers. I guess the sellers are those that bought last week that are cutting their losses. Wall street can short more and cover as they know that there are lots of shares they have to sell before the end of the day. Mutuals get the closing price of the day. Looking for the market to go lower later in the afternoon and for GPRO to maybe get below 30 today. When a stock continues to fall like this on no news wall street is just having it's way. All they want to do is make money like the rest of us. No buyers and fear taking over with owners so down they take it.
Interesting how they have not raised rates yet and folks continue to say buy gold and nugt. Result is that despite not raising interest rates gold and nugt continue to fall. This has went on for a year and nugt has fallen from 342 to 2.36. So if this was supposed to go up each time they made the decision not to raise rates why has it fallen 339 points. This is insane making the same statement yet getting the opposite result.
He shared the reasons that he bought last week. Let's say he purchased on Tuesday when it was 43.50. Now here we are 7 trading days later and the stock is down more than 25%. Now the stock needs to go up more than 35% just to break even. Looking on the positive at least he didn't buy at 62 when Jimmy was so confidently telling his listeners to buy.
In this market it could go even lower. It reminds me of DDD. It was 96 and continued to tumble to 11.
Not saying that it should happen as I think that GPRO is worth more than the present stock price but when wall street decides to make money on the short side that stock is toast.
Easy money on the short side for wall street. They take them up. When they short there are few buyers so they basically are guaranteed to make money and quickly on the short side.
They control the market with their billions of dollars that FED has provided. The money was never used as allotted to help the middle class. It was to make the rich, richer. Has now become overt and nothing anyone will do about it. Conspiracy theory. No! It is not a theory. It is fact.
After CFO's comments yesterday expect GPRO to go even lower. This is not a bull market. In this bearish market wall street anticipates shorting companies like GPRO. Wall street brokers are usually the ones that are long taking stocks up. So if they are not long there are few real buyers. The bids are mostly shorts that are covering. The offer has shorts and institutions unloading. Hence the reason this stock has went down so quickly.
Just do not trust these brokers. They have so many shares and money that they are taking out a bunch of shares all at once. Very negative news coming out regarding earnings on a lot of stocks. LULU beat and raised guidance for the year and it is down 15%. Need to be careful in times like these.
Suicide to catch this falling knife in this bear market. Not fun when they are swimming in your pool. They can do a lot of damage when the bring theirs cubs along.