What it is telling me is that your shorts are keeping you awake at night and making you unable to do even basic tasks such as reading. I see 5% premium on Dec. 3 options expiring on the 18th which is less than a month out.
I think it will be difficult for you to achieve your $2.75 goal this week since it is a short week but wish you good luck for the next week. But, don't make the mistake of covering at $2.75 and regret for the rest of your life. Cover between $1.10 and $1.30. Anything more for FUEL is waste of money.
Luck is for rabbits. Longs don't need luck here. More than making profits I just want to see the shorts scrambling to cover. I bet the smart shorts are gone between 3.5 and 4 and idiots will now be paying as usual.
You are absolutely right and I agree That is another similarity between FUEL and KBIO. The person who led the takeover of KBIO (Martin Shkreli) is more insane than the CEO of Gravity4 in Biotech. But, I don't think the KBIO longs are complaining. Similarly, we wouldn't care whether a sane or an insane person takes over FUEL. Also, it is not biotech. So, I am not expecting 5000% in 5 days. I would be happy with 100-200%. Finally, I would recommend all sane persons like you to stick to buying AMZN and NFLX.
Of course it goes without saying that any acquirer of FUEL will have much better chance to turn FUEL around and make profit than to take an unpromising cancer drug to the market and ever make a profit. It will cost a little more to acquire FUEL but should be worth it. A private equity should start with a 30-50% equity stake in FUEL.
KBIO up from $2 to $39.50 in 3 trading days on private equity takeover. Both KBIO and FUEL have very similar YTD charts (down 80%) until Nov. 18th and trading for bankruptcy valuation. Now, it is time for private equity to pick up FUEL before black Friday sale price is gone.
BTW, the sentiment about these tech stocks is always two extremes: they are either going to the moon or going bankrupt. I can give you numerous examples but GPRO is a good recent example. They couldn't get enough at 80 and now nobody wants it 20.
Here is why I will not sell FUEL: Bought YELP after July quarter miss at around 29.50. Held it 3 months but never recovered above 25. Finally when it didn't jump after good earnings this quarter got fed up and sold for 24.50. In two weeks since then it is now above 31.
There is no way to time these smaller money losing technology stocks. They are mostly trading on emotion. It is magnified 10 times for FUEL because of its low volume and price.
I don't buy/sell a stock if it doesn't make sense to ME but I cannot stop others from selling or shorting. I will never sell FUEL for $3 or buy AMZN at $650. Both are equally insane from valuation perspective. Been through this multiple times before. Last year it was with BLOX. Missed two quarters and quickly fell from 45 to 10. Ultimately got at 20+.
You will find out. Please don't cover. Wait for $1 drop next week and another $1 the week after. The chart pattern and year end tax loss selling will continue to put pressure on FUEL lower. Please wait until at least $2 more drop. to cover.
Did you get your home equity out for next week's $1 (33%) drop? Dump the entire home equity at 9;30 AM on 11/23 and cover it on Friday for a quick 50% gain. Where will u get that kind of return? Not even FANG comes close to that kind of return. They are up 50% in one year.
Because FUEL has such a pitiful volume it is very clear what is going on. It is clear from the weekly chart that one entity did almost all the selling this week. The first two days price was higher so the selling happened from the start of the day till the end. The last two days waited for the last hour of the day to start selling knowing that otherwise would have got less than $3.
FB 78- 107
AMZN 310- 665
NFLX 49- 123
GOOGL 530- 777
That too in a difficult year for stocks. No wonder a typical small or medium cap stock in NASDAQ is down big YTD. All the money is getting sucked out of those and put it into FANG.
1 penny separated FUEL and YUME today. As recently as Nov.ember 3 more than $2 separated the two. Hard to imagine this with two stocks in the same sector and FUEL management behaves like everything is business as usual. Hard to figure out without knowing the details if this is due to poor management or bad product.
PCLN had a much worse chart than FUEL. It had a high of 160 in Apr. 1999 and a low of $1.30 in Dec. 2000. FUEL's high is 1/3rd of PCLN's and low is almost 3 times PCLN's. So, there is plenty of hope.
I don't think longs are trying to salvage after losing 60-90%. The only thing that can explain the recent downtrend is tax related portfolio re-balancing by both longs and institutions.