But if your scenario is true, why is there so much selling rather than buying? The bias from way back when is down. The chart also looks bad with a clear break out of a head-and-shoulders top. I'm long much higher and also sick!
Why are there so many sellers at these levels when the overall story is very positive? Obviously, many don't believe in the future of GOGO. I have a huge loss on paper from 24 down to here.
If you know charts, check out the massive hear and shoulders formation which it broke earlier in the week. We longs need a rally well above 20 to break this pattern. Good news does wonders.
That's what I'm doing. I am selling Apr calls and rolling down with the stock. I'm praying that it will soon find a base!
I have a huge paper loss from 24 down to current levels. I hate to sell it if it here, but should I bite the bullet and take the loss? The downside pressure on the stock is unrelenting! Why? I don't know.
No, this is the news and it's good but not as you say.
4:12 pm Gogo: S.A.C. Capital discloses 5.1% passive stake in 13G filing (GOGO)
PSEC was taken out of the S&P 600 so all the funds that invest in it had to liquidate the stock. There is no fundamental reason for the drop other than this. The company is doing great.
Sentiment: Strong Buy
Recent positive announcements on Panasonic, VSAT, etc. Yes, they existed before the IPO, but appear to be getting stronger. GOGO's technology is good, but not the only game in town. They do not have a unique product. I am long at 24.
Fear creeping in on competitive systems. These competitors are getting all the positive press and GOGO is getting none.