I would like to think that the sell off today was bags throwing in the towel, but that may be a bit overly optimistic. Anyway picked up a few extra cheap shares. The process was a bit puzzling because the selloff was 100 shares at a time. Appears that it was an intentional sell down. On the other hand maybe someone was just trying to knockoff some big stop loss orders.
Don't be too hard on the shorts. those idiots allowed me to pick up an additional 500 shares at $ 9.70 a little over a month ago.
I suspect the wind will be at our back for awhile. The sleazy seeking alpha attacks are beginning to look a bit transparent, especially when the author admits he has shorted the stock.
I agree, with the extraordinary growth Cree has demonstrated coupled with the very low market penetration this stock has legs for years to come. Unfortunately we will continue to hear a lot of trash talk from a few low life's who are probably on the payroll of some manipulative hedge fund.
Keep up the jabber - fool, in a few months it will be pushing 90 and every one will be waiting for a split. Keep in mind their quarterly gross grew 24% year over year. At that rate they will nearly double every three years. This is in a market place where there is less than 1% penetration. On top of that Cree is debt free and sitting on hundreds of millions of cash. For those that understand a financial statement they realize the real measure of profitability is cash flow which is increasing at a healthy rate. On top of that it is well understood in the world of science that Cree is in the led technology leadership position. Unfortunately some of the talking heads have totally lost track of facts
Good for you. I love watching incompetents getting burned. I may have just bought your short at a very attractive price
I forgot to mention that Credit Suise raised their guidance from 60 to 66. That suggests a positive endorsement.
The following is the first paragraph of their latest release on CREE. It hardly sounds like they are saying anything about selling. Although I must say their awareness is a little suspect when they mention a TP of $66 when the selling price is already $73
Raising TP to $66; Reiterate Neutral: Cree will report September quarter
results on October 22nd after the market closes. We are raising our estimates
and TP based on stronger revenue growth expectations for lighting fixtures
and bulbs as LED lighting has reached attractive price points, offset by lower
margins due to mix and higher opex. We believe investors may continue to
have higher expectations on margins and EPS than management, even after
September guidance came in below consensus. We believe Cree needs to
beat and raise to avoid a temporary pull-back. However, we also believe that
many investors are eager to buy CREE on a pull-back. In this note, we
discuss the bull and bear arguments and continue to conclude that the
risk/reward is fairly balanced.
Wow, if one looks at the daily trading pattern it's an obvious deliberate price march down. probably thru naked shorting. Hang onto your money folks looks like a great bargain on the horizon. And of course it will bounce back when the selling has ended.