This stock was bid up from $65 to $89 in anticipation of great earnings. This was not great, and doesn't justify the valuation. Goldman Sachs agrees, as they only have a $90 price target (12 month target).
It's time to go short WDAY....
So several analysts say that WDAY is fully valued between $80 and $90....and it's trading over $87 in pre-market.....How stupid can traders be? The opening gap will be faded.....it's all over after today.
But what does that matter? The big money has been bidding this up since the low of $65 two weeks ago.....That's a move from $65 to $86 in two weeks!.....For this report? Of course not, it's about another gambling stock with no earnings and a decrease in billings projected.....but don't let that stop you from buying a stock with now a $14 billion market cap and NO EARNINGS, and only about $450M in revenue!
The casino is apparently open. No one learns anything in this market. Another money losing "story" is being bid up even more in AH. And watch the me too analysts tomorrow raising their price targets.....I think the entire market is overdue for a crash this summer.
Scale into your favorite shorts now.....This will not last. The euphoria is unsustainable.
Analysts are coming out of the woodwork these days....Everyone thinks their analysts. Piper Jaffray says buy, Summer street says neutral. Who would you rather trust? I have my money on the more well known Piper guy.
I can't even imagine what would happen to this market if there were a serious catalyst to drive it down, such as a major geopolitical event or a black swan. No one is prepared for this; no one is hedged.
The VIX and the leveraged VIX plays (UVXY, etc.) are almost at all time lows. The giddiness and biased media are making this worse. I think they'll be a major decline between June-August; of course I've thought that for the past 2 years and it didn't happen.
Value, it's like someone keeps throwing a bid under this stock, I'm not sure why.....Maybe today it will finally resume it's downtrend.
Yes, I have. They have never been profitable since their inception over 10 years ago.
You filed a complaint with the SEC because the stock went down? Stop wasting time. And you think Medicare fraud and a weak ER report is marginally negative news?
The Piper Jaffray analyst is a known pumper of stocks. His favorite has been AAPL, which he's been pumping for years. That's what sell side analysts do, they hope for investment banking business by pumping up stocks. The fact is, YELP continues to lose money, and it's way overvalued. No, I'm not short, in fact I have no position. I'm just commenting because today's move is an overreaction to the upside with short covering driving the move.
I couldn't have stated it better.....well done.....For starters, the market always seems to go up when the Fed minutes are revealed, or if the Fed speaks to the world. But I don't think the selling is over, and today is a great day to go short, or add to your short positions.
Everything you stated is a fact.....weak earnings, weak consumer, China slowing, etc. The seasonal buying argument is bogus, because they claim "sell in May,", etc., and it's not happening. That said, I think we're in for a huge correction at some point, but of course no one knows when. Today's action is nothing more than short covering, although look for the media to spin it to support their own agenda.