You are in a fantastic position compared to many. This was a 98 dollar stock last October. Folks bought then. Folks bought at 80, 70, 60, etc. Wall street has made a bundle shorting this stock. There has been a lot of short covering this week by the big money players. It takes time to cover all those shares because they have to short more to prevent it from running up too much. Wall street moves the market and when they go on a buying strike there are few buyers.
That is not going to happen until the shorts cover. There is a lot of big money shorts in this so it will take some time before they cover. You will need to be patient. Wall street has made their bundle long on GPRO when they ran it up to 98. Retail folk are the ones holding and most will never get their money back. Wall street plays the game with controls. GPRO has beat and raised guidance for 3 quarters in a row yet it has went from the 90's to 30. This stock may go much lower yet if we have the crash many feel we will have. Today will probably go under 30. GLTA
It will not be going up much in this market. Wall street is short chips so if it has a little bounce they will eat them up and down it will go.
We are entering bear market territory. Wall street goes short and who is going to buy. The buyers end up being wall street covering shorts via mutuals that they have to sell. The few buyers is why in these bear markets stocks go down so quickly. A lot of stocks went up significantly yesterday but on very little volume. Reality is that the FED has led this bull market with all the money they printed out of thin air. Real unemployment is higher than it was in 2008 and of course many that are working are making much less than they made in 2008. Granted wall street is making much more. Wall street doesn't make cranes, tractors, pipelines, etc. that provide jobs.They make a pipeline to the FED that has overfed them. AAPL is making money at this time for wall street on the short side. It will make it on the long side again. When will be determined.
You have not given much thought to your statement. Many of the shorts have been short for some time. They have huge profits. They may very well be taking some profits. Would say that they are doing quite a job taking huge profits and the stock up less than 2 dollars off the 52 week low. A drop from 98 to 28+. I do not know what you are smelling but it certainly is not shorts getting burned. This stock will probably be back to thirty or under later this afternoon.
Yes the bounces do not last the day as wall street short so we see the wall street flush.
Get upgrade. Stock moves up in the morning for the first hour or so. Then makes lower lows and lower highs as it runs back down. Now down nearly 3 $ from this morning.
Covered at 50.30. Decided not to get greedy. It still may go lower but has had a very nice drop for 3 months. With all the credit available do think Christmas spending will be good. We will see.
This looks like it could still go lower. Remaining short. Nearly covered after consumer sentiment came out this morning but waited until it broke thru high of the day. Didn't happen so still have M short. It and the market are looking weak.
They are the folks that have been making the money. I don't see any panic. Some of the longs are never going to get their money back. This is big money in GPRO. They will eventually cover but it will be orderly. The question becomes do they cover at 30-34 or is it lower. They will decide.
Would agree. Small gap up and then continued selling. The big money is short. Few real buyers in the market at this time. October around the corner. As Icahn shared with YHOO, a real blood bath coming.
People continue to try and catch this falling knife. Do think more and more of the buyers are shorts covering as volume is less and too many fingers have been cut off so longs staying away for now.
M has been toast since the middle of July. Movement down is picking up. No buyers so free fall taking place. May even be below 50 before the day is over. Mind you, even though it looks like they go straight down, they can still have 50 cents to the dollar bounce before going back down.