Someone mentioned if there might be orderly short covering. You are witnessing it here as wall street covering a bunch of their shorts to clients that want out with little movement in the stock price.
There are so many shares for sale that shorts can just keep lowering the bid to cover. Too much debt similar to the USA. You can only play that game so long similar to a ponzi scheme. The late comers(those that began buying into the scheme last September) are now the ones that hold the debt that they will not be able to pay. Sad but true! My goodness, even folks that bought at 60 in December thought they were given a Christmas present. Even those that bought 2 weeks ago thought they were going for the ride of their life. Well they have but not to where they thought.
Unless they can develop something in the lab to recycle toilet paper they remain beyond the toilet. They have and are continuing to flush this company. Have my doubts that this company will ever see the close it had yesterday at 4 PM. They have lost all trust. How many times have you seen wall street with their rhetoric imply something positive resulting in a small move up only to see it move back down as it continues to make lower highs and lower lows. The volume tells you that many funds have given up and will take their losses. All those sells are not folks shorting more. They are big funds taking a big loss.
No I am not short. Just following. Can not believe this fiasco. Do feel bad for longs. It is obvious that folks in the know are making a bundle as it has been going down each day before earnings release.
Wall street wins again. Those hoping to get ahead get much further behind.
Now they will own a stock that will not make it back to their 25! No buyers as now the market is beginning a downward trend after seven good years. Under 18 and going out of business. Will not be able to pay the lawyers while the executives and previous owners walk off with multi millions. Now the retail folks own the company as stock holders. Folks talking about buying here while many that bought from 60 to 80 are looking for windows to jump from. This is the American dream. Take advantage of those silly enough to trust.
This is wall street playing out their short. They have had their time with this stock. They made mega dollars long with the QE money and sold. Went short and are making mega dollars again. When they cover they will go elsewhere. This stock is done. Wall street does this to stock after stock. The executives have already made their many millions. They will keep running the company for awhile and still make much less millions but the stock will not be a big money stock again.
If you had purchased at 60 or 50 you would think it had blown up. After it has been beaten down this much and another 25% after hours I think it has blown up. They will try and put the pieces together but it will never be the same. I thought yesterday that this stock was playing out like GPRO. Well that it has.
Would not touch this with a bunsen burner. Company is about to blow up. How can one have any confidence in this company? I do feel bad for the many folks that have bought this at much higher prices. I just do not see most of them getting their money back. Companies that collapse this much do not usually come back.
Was not expecting 2003 prices . Obviously the CEO and remainder of leadership have been totally irresponsible. One would think that they must not really have any idea what was happening in this company. They should be going to jail, not deciding that they need new board members.
Love it that Brian is steping down after making millions of dollars. He did his job in getting the stock into the 80's so big money could sell and make more money. Can see lawsuits coming. Down to 21 now.
They lost more money than forecast. Retail left holding the bag. Wall street left many dollars ago. Majority of retailers will never get money back as this company will never see 40 again. Wall street knew what was happening and have been short. This stock is much worse than 2008 stocks because it is not coming back again. Wall street can get cronies to pump it all they want. This stock was 35 on the 22 of April already fallen 50+ points and now down another 40% on May 5th. Sorry longs.
Definitely not looking good for retail shareholders.
Wall street dictates it's own story. Often is doesn't make sense. Yet it always makes wall street money. Hard to believe that ENDP will have big earnings with the beat down. We will find out soon.
Not going to matter. Wall street taking them the other way. Look at BMRN, SNY, MYL, MNK, etc. They are all getting taken down. Market is also beginning to look like it is correcting and if that is the case these stocks will fall much further. Even if ENDP beats and gaps up they will sell it back down. Of course if you are just trading and gambling on a quick dollar I guess there is a chance that you get a nice gap up and sell. Be careful.