Oh wait, AKS doesn't sell oil. Amazing. Two quarterly earning announcements when the company beat and the stock goes down. This most recent one the company pre-announced bad news then missed even that lowered bar. China is dumping massive amounts a steel on the US market. US Steel missed by 30 cents per share. Now AKS is up 10% since its intraday low last Friday. Makes perfect sense in Wall Street logic.
The drop in X price today takes it all the way back to just five weeks ago. The stock was up a bunch in five weeks and now has given it back. That's no big deal for long term holders. The short term investors might make a bit of change trading it though :)
But, but, but... AKS pre-announced bad news... then MISSED and the stock soars! If X follows the same trend it should be up $2 tmw. Have to say that AKS just doesn't make sense as far as the stock price goes. Beats two quarters and falls. Misses a quarter (that was already known to be bad) and it soars. That must be the new Wall Street logic.
Oh wait, AKS doesn't sell oil. Tough to figure out how this stock trades. The company beat on the last two earnings reports and the stock traded lower. This time the company has already come out and said bad things ... that was when the stock was at $4.20. Now it is comfortably above that level. Kind of like playing 7 2 in Texas Holdem...
If you look into it you will see that the pre-market trade to which you refer was only 200 shares, not 2000. It happened almost an hour and a half before the market open. You know AKS ran up on the roughly 6% spike in oil prices. For you to sell some/all at $5.27 is pretty impressive since it only traded at that level (actually touched 5.29) for mere seconds. I hope you made some good change and can re-load at these better prices. GLTA.
Since the insiders bought big time in the low $6 range, the stock has a way to move up before insiders even start to think of selling. Good thing access to the Yahoo message boards is free to anyone, huh? That way people can post junk like "fake rally" stuff.
Every penny increase in the price brings in even more buying interest. That's definitely a sign of short covering. This stock is up 20% from when it pre-announced a weak quarter (and the downgrade a day later -- $4.05 then).
It's crazy how this stock trades.
So a volatile stock! An investor who trades it could make a fortune!
First ten minutes today is down almost double anything else on the my screen. spanspur logic means that I am causing this selling because I write a little note about it after it happens. Oh well...
The last two quarters AKS beat and the stock went down. Now the company will have a weak quarter so the stock will go up. That's Wall Street logic.
My postings have no impact on the direction of the stock price. I am still flattered that you think otherwise.
There spanspur. Did I just make the oil market go down or did I just report what already happened? We are both long this stock. It appears that I am more frustrated than you are though.