Well, whatever organization(s) are shorting this sure have a lot of muscle. They did it 3 months ago after a strong earnings announcement, and they are doing it again after an even stronger earnings.
I guess its because Veeva is such a new company and they can play on weak hands. Owner's of the stock must worry about its future, but I sure don#$%$ following in the footsteps of SalesForce and growing dramatically.
Last qtr I rode it down and then loaded up at around $30. I don't think it will sink that low this time around, but if it does, I'll back up the truck!
One minor thing you can do to lessen the shorting is to put your shares up for sale with a high price limit (say $60 bucks). This prevents your shares from being "borrowed" and sold by shorts.
I hope some other hedge fund sees an opportunity here to buy like crazy and squeeze the shorts to death. They deserve it for picking on such a young, vulnerable, and strong potential company such as Veeva.
Earnings release is estimated for Mar 12th. So you have 3+ weeks to load up.
I see the report showing solid earnings for 4th qtr, and a blow-out forecast for 1st qtr. With the relentless series of storms hitting the country and all-time record snow levels reached at many cities, the demand for PLOW's products has to be at an all time high.
Stock could easily run to north of $25 bucks in my humble opinion.
Nice short squeeze just getting started on this sock. After last earnings announcement the stock jumped to 44 and then the shorts took over. They drove the stock all the way down to below 30 for NO GOOD REASON! There is NO negative news for the company, and if you look at Salesforce (which Veeva is an offshoot of), its been strong over the same period.
So I would bet Veeva is back to at least $40 prior to their earnings announce in early March. And then, hopefully, it takes off from there after blowout numbers.
A couple of weeks ago, Veeva announced earnings that were strong. Revenues up over 50%, earnings positive, great forecast ... The stock opened the next morning after earnings up 4 bucks and then the shorts took over.
I've seen it many times before. Hedge funds and stock manipulators look for a high flying new company, and short the hell out of it right after earnings. When it starts to drop, regular investors think something must be wrong that they don't know about, and begin panic selling for no good reason. And it feeds on itself.
Such has been the case for Veeva. There is NO bad news and the future looks very bright. A 20% drop in the stock is totally unwarranted. I think it has about bottomed out now with most of the weak hands already out. So now is a great time to load up. When the shorts start buying back to take their profit, we should see a strong recovery.
Don't wait too long! You could miss a great run if you don't pay attention every day!!