Great points. I view this as the last chance to buy under $85, so I'm back in this after selling a week ago to buy P. This is heading into its seasonally strongest part of the year and the breakout above that huge 3-month base in the 70-80 range looks great technically. The investor day was a little underwhelming for the short term, but clearly all the instys are seeing $5-8 in earnings power/year + divvies imo. I'm going to try to forget I own this and will set an alert to let me know when it crosses $100, which I think will be in Oct. GLTA.
The insty's algies have been mopping up shares like crazy since Investor Day no doubt. I think when the run into the 90's comes, it's going to be fast and brutal. Green light from Fed. P is a good example of what's happening in this environment to the sp of some stocks like this w/ a huge short position like this one.
SCTY did their secondary a little over a week ago at about 28.99 range. I bought a truck load around that price; within a couple of days it hit 37. That is THIRTY SEVEN. Same thing could happen here. By the time P takes the stage at the GS conference next tues, this should be comfortably over 31 imo. glta!
ok i think i might have been wrong. sold 85.20-ish area. this looks like it wants to go lower.
You can bet that the people who are putting up over $400,000,000 to get into this at $25 are seeing high probability of a lot more than $35 on the near horizon.
Stocks often trade down on the days their secondaries are getting filled. SCTY did so a couple of weeks ago; then, when the secondary was filled, it went to 37 from 28 in about 2-3 trading days. Same thing here i think. Looking forward to some great PR and a substantial higher reset of expectations at the goldman conference on tues!
you will likely find the tues goldman conference to be educational with respect to the new earnings power of P that is going to result of the intelligent deployment of the capital they are now receiving, the new CEO and the recent revelation that itunes radio is not as formidable as many predicted. Everyone is going to have to advertise on the P platform, like FB.
It will likely immediately trade at a significant premium to the secondary price, just like SCTY is trading at $37+ after pricing its secondary at 28 and change about ten days ago. This co is very good at PR and managing expectations; don't be surprised if they announce this afternoon that the secondary (including ove rallotment) is already done. Under promise, over deliver. Get used to it; that's what we're in for here til we're sold at $40+.
Thanks for your posts; very helpful for perspective. They've helped me stay 300% long this over the past week for a 100% acct gain. Buy you a beer sometime.
Just wait til they announce the secondary is complete; you'll see vol. Maybe they announce that today? Low vol slight pullback on triple witch after huge vol up days. Looks great to me. Goldman conf tues!
I read it was already done. But have not seen official announcement from #$%$ that; probably waiting to announce at GS conference tomorrow. Tomorrow is P's turn to give some great PR and visibility.
I would not be surprised to see an announcement today that the secondary is complete at $25. They wouldn't have raised the price to there, and the underwriters would not have exercised their over allotment option there, unless they had strong visibility on it being completed there and for near term catalysts to take it significantly higher from there imo. Today is one headline day in favor of AAPL; I think going forward headlines and reality will be very helpful to P. Very emotional trading all the way around.
volume lower today than usual (so far). Fireworks start in about an hour imo w/ the GS conf presentation.