I think over the long haul that they will go higher though it may take a while. These are big name shorts in these so they will control the covering. Today a bunch of buying and some covering so they jump on the offer and stop the squeeze.
You are correct. It was just a trade. Covered for a loss at 57.00. Could have got out for 400 dollar profit but thought it would have a quick drop to 58.10. Didn't make it. Went long GPRO at 28.20 this morning and sold at 29.40. Heaving buying volume in GPRO.
This will do nothing to move the stock but I went to my local sports store to ask them regarding GPRO sales. When I go into the store I see a huge monitor screen demonstrating the GPRO products in action. I ask the sales person how well the products are selling. "We sell all kinds of GPRO products!". Christmas is coming and Many folks that I know want to please their kids. Well, guess what a lot of kids want for Christmas? To see themselves in action. I do think that their products will be big sellers. Sales may be down some this Christmas but not for GPRO buyers. It will down for the folks that would not have been able to afford a GPRO product in the first place. We will see.
Some day it will go up. Maybe today! This is really helpful I know for all the folks that are in at 45 and above. How can you trust these brokers such as MS, JPM, GS that continually get caught manipulating the market and pay fines of millions for gains of a billion. So they steal and defraud yet do not go to jail. Total farce.
Beginning of earning season and AA misses so market should be up today. ADBE missed by 15% or 51 cents and was upgraded as a result. Fundamentals definitely matter. Wall street has become the biggest legalized ponzi scheme the world has ever seen.
So GPRO lowers the price of one of their camera's and an analyst drops the target price of the stock. Whether GPRO makes 150 dollars or only 50 dollars does not affect AMBA. AMBA's revenue did not change so they still make the same amount of money. It appears to be pure manipulation that they tanked this stock 10%. Maybe the broker that shorted heavy will come out with a downgrade tomorrow. One of the difficulties now in the market that brokerages overtly manipulate the market.
YesI do have a day trading account. It cost me 4.99 each way for 1000 shares or 5000 shares. So it costs 10 dollars for the buy and sell transaction.
For longs sake I hope that doesn't happen. Have no faith in the charts but then one never knows how low they will take it.
Too many shorts in AMBA for that. Even if they get an upgrade tomorrow there will only be small (dollar or so)gap up and then get sold down.
AMBA is a good company with great chip expertise. It is always a traders market. At the present time wall street has an easy time making big dollars shorting particular stocks. AMBA and many others fit that mode right now. I for one do believe in their technology but still waiting to buy. I believed in it when stock was 100 but thought stock price was too high. At present I am thinking we are near fair value but if they tank this market it will go down much more. So i will wait until I see buying. For those already long I hope for your sakes it moves back up soon.
The only takeover chatter I am hearing is that the mortgage company wants to take over my house as my collateral of AMBA no longer meets their expectations.
Mr. Gilhuly, Mr. Bates and Mr. Marks have made multi millions with the shares they have sold. They say THANK YOU for buying our shares. It will help them to retire in peace knowing that they can look after themselves in retirement.