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.
Soon you will hear that we did nothing illegal, it was just unethical.
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.