ESi needs to release audits premarket, investors hate uncertainty, and with the growing concerns in Greece, and a weak market, this could get further hammered down, I'm just being realistic. Lots of people on here are either pumping or bashin. We all know this is a low float stock, with a huge short interest, but without good news, it will continue to go down. If the audits are late, don't be surprised if this goes down a heck of a lot more. I still believe there will be another squeeze, but it could possibly take a while, and by that time, don't be surprised if you see $2 again.
These idiot bashers don't even use facts to back up their claims. DNDN has nothing to do with ESI, that's like saying because Worldcom filed bankruptcy, ESI will too. Different sectors, different scenarios, just different everything. At least they can come up with valid arguments as to why ESI is going to go bankrupt! Is it because they just smashed earnings, and are flush with cash? They are just trying to raise doubts and instill fear to get the weak hands out. You don't think who ever is shorting this isn't playing both sides? As soon as it gets down to their desired level, they will run it back up. Please bashers, enlighten me with some cold hard facts pertaining directly to ITT tech.
That stock crashed because they had a disastrous earnings report with lots of downgrades. ESI makes money, and just smashed earnings. This is a volatile stock, I've watched it go down 100% in a day and go up 100% in a single day. I don't think this is a good comparison.
"The company also stated that, based on the current status of its efforts to complete the 2014 compliance audits of its institutions’ administration of the Title IV programs in which they take part, the company believes that the 2014 compliance audits should be accomplished prior to the U.S. Department of Education’s June 30, 2015 deadline."
Google it, it's part of the reason for the CalVet suspension, once audits are completed, they should be able to resume CalVet. This would be good news, coupled with the short selling ban Monday. If management was smart, they'd release it Monday, so we could spike up.
I believe 1 more day, once it goes over 10%, it's the rest of that trading day, plus the next day. This is why the Bears didn't let it go under 10 % until end of the day. Probably why we saw it jump to 4.42 as soon as it hit 4.28. Whoever bought those 1.5 million shares is pretty smart. I am pretty confident we see a pop next week.
Someone on market pulse is saying it was triggered too, no where in the rule does it say it has to close below 10%, it just has to go below 10% in the trading day, unless they just aren't being clear, but I just did a lot of reading on it, and nowhere does it say it has to close under 10%. I'm still not 100% sure, but from what I have read so far, it seems to have been triggered. I copied and pasted that from the SEC website. Google "alternative uptick rule", and you can see for yourself.
According to what I have read, the rule has been triggered, which means shorts will be at a disadvantage next week. Might see a massive squeeze next week after audit is filed
Rule 201 includes the following features:
Short Sale-Related Circuit Breaker: The circuit breaker would be triggered for a security any day in which the price declines by 10 percent or more from the prior day's closing price.
Duration of Price Test Restriction: Once the circuit breaker has been triggered, the alternative uptick rule would apply to short sale orders in that security for the remainder of the day as well as the following day.
Securities Covered by Price Test Restriction: The rule generally applies to all equity securities that are listed on a national securities exchange, whether traded on an exchange or in the over-the-counter market.
Implementation: The rule requires trading centers to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution or display of a prohibited short sale
In February 2010 the Commission adopted a new short sale price test restriction, which is commonly referred to as the “alternative uptick rule.” The alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day compared to the closing price on the previous day.
I'm not clear on this, does it have to close below 10% or since we reached 10% when it hot 4.28, does that mean the rule was triggered?
Someone on market pulse is giving out the number to the SEC for naked short reporting complaints center, so I assume they called, and so will others, this is a manipulated stock in the worst way. Short selling should be suspended, but won't be unfortunately
It is pretty obvious what is going on here, there are paid bashers on this board trying to instill fear, and very intelligent hedge funds attacking this stock, and doing it so successfully. No one on this board knows their plans, and hopefully it has stopped. Every time today pps started to rise we saw counterfeit shares being offered, and then spun off to the market maker at lower pricesI don't think the short attack is over, and we can possibly see a lot more red Monday, however, based on current metrics, this stock is worth much more than current price. It's just too bad it is being manipulated. Once this attack stops, I think we will pop back into the $6 range, right now this is a gift at current prices, especially with audit due out by the 30th. Good luck to all, and I'm sure I'll have some board idiots replying that this will be $2 with no valid explanation, especially since ESI literally just smashed earnings. Can't wait for the audit to burn them.
You are comparing apples to oranges, ITT just beat earnings and has a lot of free cash flow cause of that. I'm not saying this is a great company, but this could easily double next week once audit report comes out, I'll be out of this stock either way when that happens.
I don't think management is that smart. I'm just looking forward to next weeks audit at this point. Maybe everyone reporting the naked shorts will help?