I agree this is very irrational trading of this stock. The CEO, Park said that future guidance would be weakened by expenses associated with new product roll out later this Fall. This past quarters earnings were very good. This company has over $3 bucks per share in cash and are making money every quarter. I would not allow uninformed investors or shorts to push me out of this stock. I really didn't expect it to fall hard again today and just bought more at $13. It's tough to hold on days like this but knowing there is nothing wrong with the company does make it a bit easier. Eventually this will pop up on screens as way over sold and the buying will begin. It really should be there now.
Maybe you should dilute that rot gut you're drinking.
Not unusual most of these were automatic.
Timeframe 3 months 12 months
# of Shares Bought 27,004,415 108,116,223
# of Shares Sold 34,888,335 79,231,649
I guess we will find out soon enough! I'm not concerned with day traders who have the attention span of a gnat. I do my research, listen to CC's and invest accordingly. I'm quite content to wait a couple of years as long as management is executing the business plan and making money and FIT is doing both. This market can be very irrational and I just take advantage of the ill informed and buy when they are selling. Just curious if you are so anti FIT mgmt why are you wasting your valuable time here!
The last several years all you "experts" said all Apple had was the iPHONE! I guess you chose to ignore the rest of my post showing a revenue beat while saying "NEW" products are on the way hence the reason for the extra expenses in future quarters. How about 47% of this past quarters revenue came from a NEW product and that was for one month of sales. Get a life and try mutual funds because you obviously don't want to take the time to actually do your own research.
People said the same thing about the iPhone. Are you aware of the new products coming in the Fall just in time for Christmas? It was a better-than-expected quarter for Fitbit: the company beat revenue expectations, with $505.4 million in revenue for the first quarter (which was also a 50 percent year-over-year increase). It also sold 4.8 million devices. To date, Fitbit says it has sold 43 million wearable devices. How about the fact 47 percent of the quarter's revenues came from sales of the NEW Fitbit Blaze fitness watch and Fitbit Alta activity tracker, which is noteworthy when you consider that both of those products were shipping for ONLY about a month in the quarter.
Mark Twain said, "it's better to keep your mouth closed and appear stupid then open it and remove all doubt."
Good luck with that. If FIT falls to $6 the entire market will be in a free fall as well. I don't see this falling much further because they really had a decent quarter. CEO gave questionable outlook because of added costs of several new products coming later in year not because business is not executing. This will rebound once weak kneed investors leave and speculators get scorched once or twice. I'm adding down here, averaging in at different spots. My last limit order for today is at $14 even.
They actually had a pretty good quarter if you are competent enough to understand it. The market seems to be punishing them for guidance next quarter, 10 cents, versus 26 cents expected, but they actually had a pretty good quarter, all things considered. Earnings were 10 cents beating the forecast for 2 cents. Revenues totaled $505 million, topping the estimate for $445 million, with 4.8 million devices sold during the first quarter. Fitbit sees full-year revenues of $2.5 billion to $2.6 billion. Its second-quarter revenue forecast was better than expected, at $575 million versus $530 million expected. No logical reason for this sell off in my book.
AMD posts strong fiscal 2Q16 guidance
In the previous part of the series, we saw that Advanced Micro Devices (AMD) improved its cash position, but the negative cash flows continued to hamper its balance sheet. However, the company expects to start reporting positive free cash flow in 2016.
While Intel (INTC), Micron Technology (MU), and Qualcomm (QCOM) have reported weak guidances, AMD has posted strong guidance for 2Q16. In fact, it expects to report positive revenue during the quarter, breaking its 1.5-year jinx of falling revenue.
"Penn has been dishonest about the upstream energy loans all along."
Rye you stated in a previous post that Penn was being dishonest so why would you put more money into a dishonestly run company. I'm not criticizing you but this seems a bit odd to me. Did your opinion about company dishonesty change since yesterday?
I just saw this and it's probably the reason for today's drop. It's a shame they rarely provide a reason.
Analyst Actions: Robert W. Baird Lowers PennankPark to Neutral from Outperform, PT Set at $6 - Shares Off 4%
The 52 week low is $92 the 2 year low is in the low 80's so what exactly are you talking about wooly boy. If this falls into the low to mid $80's I will be buying as much as I can. Everyone knew the comps would be tough this time around so this is ridiculous and India market is just getting started as is Apple pay. This is STILL a great company with a lot of cash!
This stock and other volatile ones like it will get taken from you 99% of the time if you buy and use a tight stop loss order strategy. If you like the company hold them and average in over time, don't use stop loss orders. My humble opinion.
IBM joins forces with Micron to enhance its state of the art Flash System Storage Arrays.
The memory chipmaker is reportedly providing its high powered flash memory chipsets to IBM’s massive systems.
Meanwhile, Mizuho Securities issued positive comments about DRAM prices after Hynix posted financial results for its first quarter earlier this week.