The market is not rigged. They really do not use the material that is concrete such as metal frames and steel cable so from a lawyer's standpoint it is not rigged. But from the standpoint of integrity it is manipulated by rich human beings. Most of those folks now a days see values as money not character. They are really drug addicts who will steal from their own families to meet their needs.
What is the sense of paying all the money out for the SEC?
This is another example of how you do not want to be on the opposite side of the big money that does move the stock. RHT even raised guidance besides beating and this is what happened. WOW! An 8% drop.
Obviously they were taking this down no matter what. Certainly a lot more shorting taking place now by the big money folks than before. Normally this beat would have created a nice move up. Instead a rather huge butt kicking.
Riggers going the way of the coal companies. Many will not be around for long. Competition is becoming cut throat. Company's like HERO will be going bankrupt. Only the best and most profitable will survive this storm and HERO is not one of them.
After Susan Decker spoke on CNBC it appears a lot folks are taking their profits. Can not really blame them.
She left a big sense of risk in the trade where before investors felt assured they would be making more.
We will see were it goes today but at present it appears I may have been wrong. I do think that this stock will close higher next week but was thinking it may have a pullback today or tomorrow. Maybe the big boys have accumulated enough and it moves up from here or premarket may be a gap and trap. We will see.
New technology replacing the old. A continued downward spiral with folks continually catching a falling knife.
Yes they are oversold and RSI's are under 30. Yet they continue to fall. In 2010 DO was 110. Market has been a wild bull for over 4 years. DO has bee a sleeping bear with a price of 38.54 and still falling. I shared the same theme will coal companies in 2011. WLT was 140. So it was a bargain at 80, 60, 40, and now 3.44. Some drillers will make it through and others will go bankrupt. I do think more drillers then coal companies will survive.
Obviously it is a treacherous time out there. The oil companies will squeeze the drillers so be careful.
This stock will not see 5 dollars again. Really who is going to buy this company. These companies are not expanding, they are down sizing.
I agree with you 100%. This was a manipulative short ploy. They said that it was subjective which means nothing. But it does permit them to be void of any manipulation while they made their money trading this stock for the last eight days. Made for a little exhaustive day in a light trading stock like DORM.
Here is what caused the big drop.
Dorman reported results have 'sizeable subjectivity,' says B. Riley
After conducting channel checks, B. Riley says it uncovered a little known program carried out by Dorman, in which the company ships new products and line updates to warehouse distributors, but the warehouse distributors do not explicitly order the products and are typically given the right to return unlimited amounts of the products for one year, according to the firm. B. Riley believes that the challenges associated with estimating returns from such a program are considerable, and make the company's reported results significantly subjective. B. Riley reiterates a Sell rating on the stock.
Heard that folks could get off on the 36th floor. Lawyer's floor for folks interested in getting some money back.
Poor joke for longs.
Riley comes out and says that they are cooking the books. Trend down continues with no response from Dorman's.