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.
Analysts know that CRM and the entire sector (WDAY, FEYE, etc.) are all very overvalued. Times have changed. No one wants to buy momentum stocks that are losing money. The only consolation for CRM is that it's not as overvalued as WDAY.
This means they lost more money than last quarter. Beat expectations you say? Stop the games, that's all these companies do is play games.....Buybacks, raise revenue a few pennies, blah blah blah. I think the party is over.
No earnings, no reason to buy.....It's that simple. Stock prices discount future earnings.....Revenue you say? That movie has been over for months.....The market has changed....CRM, WDAY, SPLK, and all the other momo names are not en vogue anymore.
although it's $2 off the highs.....I still think it will close red today....Incredible counter trend rally from the lows at $66 less than 2 weeks ago.
Of course they have a positive forecast, anything to pump up the stock and the market. As if they really know what will happen in 3-6 months.
All's forgiven. This is America, land of opportunity. They're still buying in May, and not going away....yet.
They ran it up over $77 on a short squeeze and a technical counter trend move. That was your chance to sell, or add to a short position. This company MAY be worth a market cap of about $5B....that would give it a stock price of about $40 or so. It's extremely overvalued by any known metric in the universe.
They steal your shares if you're short, and they suck traders into thinking it's in a new uptrend. WDAY has a market cap of $13.55B.....for their $450M in revenue. This is way overvalued. Trade accordingly.
Value, It looks like they're day trading it, scalping $50 here and there. Today whenever it drops 10-20 cents, they run it back up. I also believe the MM's are trying to collect shares. There's .15-.20 spread on the quotes, so it's profitable for them. Keep in mind, WDAY is in a protracted downtrend....Of course that doesn't mean it can't go counter trend on us, but I'd add to my position if it did.
As for CRM, if the chart is correct, it will fall post earnings. Earnings are a tough trade, as you know. But I'll stay short WDAY through earnings, as I think most of the downside is yet to come, and that goes for the broader market as well.
"3 billion in revenue might give a 13 billion market cap." Right now sales are $450 Million.....WDAY is way ahead of itself......Do you think maybe the street is waiting to see CRM's earnings next Tues. before a substantial sell off happens?