The main difference between Citron and shorts screaming about how awful a stock is on many different boards is their size and timing. They waited until they saw the momentum stall, even on a huge rally day (they likely contributed to that stall by short selling) and then announced the company was way overvalued. Given momentum was already in their favor, it was easy enough to push things lower by a few over the top negative comments. And given that these comments are self serving, you can't trust anything they say.
I would bet a lot of money that you won't be able to sell for a profit on Monday, even though I am long the stock.
Should work as long as you didn't sell too many. The bottom can't be far away. If you get put the shares you can turn around and sell covered calls until you're out of the position. Somewhere in here we are likely to have a sharp reversal IMO.
Dirty Rotten Scoundrels? Love the part when Michael Caine is trying to show that Steve Martin doesn't feel any pain at all. I still think selling the $40 calls is a good alternative to bailing. With a little luck it will stay in this range, making it possible to sell the calls again once they expire. I got around $2 for calls expiring next Friday.
If your stock doesn't get called away, repeat the process and you have just recovered over $4 of recent losses.
Its only a scam if they take it up to nosebleed levels. And I think we would all welcome such a scam at this point. We have had some false starts. Hopefully this rally is the real thing and gets us to the high $40s or even higher.
We would have if AMBA hadn't been clobbered afterhours. Our bump will probably be down $2 instead of $2.50. Bad timing, as GPRO was off its lows and beginning to come back some.