Agree with you stimulus. Ridiculous talk about a miss because US numbers aren't what was projected, while at the same time admitting international sales are smashing the revs from Hunger
Games. I expect very heavy attendance through the weekend. If you look at the recent stories on Yahoo there is a new Seeking Alpha story talking about disappointing numbers, adding that this is "an extremely mild disappointment". Please tell me how the words extremely and mild can be used together! Some big players just decided to make some money taking it down, will likely accumulate when the price stabilizes, and then issue buy recommendations.
Ah, but game of the Street is NOT to value a company on its performance--rather, to value it day to day on how good a guesser the most optimistic analyst is. If he is a bad guesser, the stock gets punished, assuming the stock surely must have run up based on his/her estimates. Crazy. Annoying to be punished in the short term, but over time this stock seems destined to move higher.
Careful not to be too impatient. A stock can move down for many reasons, including manipulation. XOOM is at times very thinly traded with a huge bid/ask spread, making it very easy to push either direction. I got shaken out of a stock I owned a few months back after it dropped precipitously and negative articles started coming out. The stock (CRR) is an entirely different industry, but doesn't matter for this discussion. The stock fell down into the mid $60's and when it bounced into the $70's I dumped mine for a small loss. Now, five months later, the stock is at $125. Not saying this will happen, but the risk/reward looks good here. Selling a few $30 covered calls on spikes higher might be a help to some here who are frustrated over the recent dip. I have done so three times on half my shares for around $3.5 per share, which definitely improves the cost basis.
artist--Can you speculate about why there would be insider buying going into disappointing earnings? And about where the bottom might be for this awful stock?
This company has one of the ugliest charts around. Big question is can they really turn it around at some point or does it keep grinding lower and lower over time? I have a small position and am willing to add if we ever see it begin to turn up convincingly.
One clue that you are way overemotional here is stating Ender's Game cost "110 billion". Did they launch their own fleet of space ships and have a real intergalactic battle?
Years ago my brother persuaded me to read "Ender's Game". Although I had no interest in reading anything in the sci fi category, I gave in and read it. I could not put it down. I loved the book and its sequels and for years have wondered why in the world someone did not make it into a movie. I'm hoping they do the book justice. If they do, this could be a huge box office hit. I'm looking forward to seeing it and am long the stock, although I acknowledge a pullback is very possible.
Fairly new to the stock. Was Antar correct the last time he questioned accounting? Does it seem likely he is correct now?
You can sell the Nov $25 puts for $1.10. If you have to take delivery, you effectively get is near yesterday's lows. If stock stays over $25, you get to keep the money.
It is pathetic. And what worries me is the timing. Earnings are a couple weeks away. If they were expecting the stock to move higher on earnings, wouldn't they have waited on the secondary?
Hopefully you're right. Already have 3/4 our normal volume in 2 1/2 hrs of trading, so should see a nice volume increase by the end of the day. Annoying, had some options that I sold earlier in the week for about .50 cheaper because they were near expiration.
All good points, but the few points I noted today were 3 1/2. Actually, they were dollars per shares--not points. Will be a long time before we see $30 again IMO. If we are lucky it may move back into the high $20's before the next earnings report. Hope I am wrong, but think we are in for some tough times in the near future.
Did not have the guts to keep adding to my calls when the stock did not respond to the conference call, so sold my calls for a small profit rather than taking a chance on a bounce. I also bought some Nov $25 calls for $2.00--now asking $2.70. Seems like most of the time when stocks get crushed on earnings they at least get a little bounce after the call. We are $3 off the lows, so a terrific bounce here.
Watch it close within pennies of $60 tomorrow.