I accurately predicted the fall in price since last Thursday.
Today I posted when the stock was trading at $7.84 that CNAT would fall BELOW $7.70 in the last half hour due to forced margin selling. I was pretty accurate. If that's a fool, then I am a fool for being correct.
Look for $3.70 range or below tomorrow.
Call them up at Altimeter's offices in Boston and ask why did you sell your over 10% stake in NQ Mobile and dumped it all at once at such a huge loss? What insider information did you know to sell-off before the official announcement of the Audit Head of the Board of Directors would resign?
There are just too many small retail margined buyers that are forced to sell at lower price points. No interest in the retail buyers at all. They were conned by HFT computers pretending their was volume and idiots bought the stock at $9 and up range.
Google that article or it is listed in the YAHOO finance news that this Benzinga Staff Writer said Altimeter Capital sold their entire position.
The Events That Took NQ Mobile Down Around 40% In 3 Days
Luke Jacobi, Benzinga Staff Writer
Hedge Fund Reaction
Adding to the bad news was word that hedge fund Altimeter had significantly cut its stake in the Chinese company.
Altimeter had been the largest holder of NQ shares, owning 10.8 percent of the company, with the right to acquire an additional 0.4 percent. An amended 13G filing from Thursday showed that NQ’s largest holder had liquidated its entire position, less the right to acquire 0.4 percent of the company.
He first said June then changed that when the $40 never happened. Where do these guys pull things to pump? Might as well say $100/share.
Go back to January and a similar thing occurred for April $15 calls. As you know the stock went to $5
when have you seen a stock LOSE a greater percentage for 3 days in a row?
That means more and more have to get rid of the stock. over -5% on Friday, over -7% yesterday and over -8% today.
-20% in just 3 days.
Exactly as predicted. EXACTLY!!!!!! Break $7 tomorrow or by Friday the latest. Too many small margined people are forced to sell at lost.
Stupid is as stupid does. You will eventually sell at $5.
$6.90 range by Friday......BOOK IT DANNO!!!!