In 2013 they ran BBY up crazy (I trade BBY a lot) and many of us familiar with the stock were scratching our heads as to why it went from $11.20's in Jan 2013 to $44.66 in Nov 2013. The founder Schulze, the CEO Joly were selling in the $40's in late 2013. In early Jan 2014 BBY reported very weak holiday numbers and the stock went from $37-$38 to eventually just above $22 a few weeks ago. Just follow the insiders in most cases and you will see what direction their company's shares are heading.
That's what these guy figured too that's why they were selling even in the $7's after seeing the $9's they must have believed it was heading back to almost where it came from.
If that list is true they were sitting in front of the screen dumping figuring the share price would go back near where it came from. What's more amazing is that they saw Thursday's price action the close and the after hours and on Friday when they saw the price falling they most likely ran in front of their screens and traded out of their own accounts like panicked children.....WOW!
Now I feel much better.... although I still shorted the mid $8's to $9 and over $9 in the AH last night (9 trades total). What you quoted was the fuel for another classic Wall Street pump and dump. Mania set in for a few hours Thursday and when CNBC mentioned the move on Thursday afternoon PXLW was in the $7.70's and that was more fuel for the fire. That's when I put it on my screen and waited some shorts were a bit too soon yesterday but not for today. The numbers in the statement did not add up to an 87% move and a 100% in the AH. I posted last nigh that this rally would fade either late in the pre-market or after the open. To be honest I did not think it would close under $7 but the numbers stated do not even justify even a $6.85 close unless some other name signs on like AAPL did.
Cramer has been negative on the AM show for weeks now yet the markets have crept higher in the face of mixed data and the Ukraine and he continues to seem a bit more downbeat on things. Now I will concede that he may believe we are nearing the Dow high, making new S&P highs and near 14 year highs on the Nazdaq so use caution but those levels never stopped him in the past from pumping. I firmly believe that he mentions certain stocks for either the benefit of his charity or for the benefit of his hedge fund pals who he has never severed ties with. I believe a lot of these funds were short early in the year and stayed short and now are on the wrong side of those trades. Cramer is Cramer we all know he exists to saturate the airwaves and to stoke his ego. Go look up his net worth so (his wife was also a trader like him in the past) and understand he does not do it for the money.
I did add some twice around $9.25+$9.50 in addition to the regular session mid to upper $8's. Tell you the truth I never expected it to close below $7 but it does not surprise me since I have seen this before numerous times. All the pumpers late Thursday forgot to realize that this was only 10% of their revenue and buyers bought the analyst's (who upgraded it to $10) speculative pump that QCOM and many others would soon follow or even that there would be a buyout. Posters here were telling you to read the 8-K creating formulas on how PXLW revenue would jump into the billions. They were either pumping or dillusional but they did get a strong dose of reality of what the market can do to your gains by 4pm. I think this bottoms near $6 to $6.25 Monday and may bounce from there. Then again it could close under $6 and not surprise me.
Here's one....you should have sold above or near $9. That's why you buy stocks to actually make a profit....no?
Retail moves higher. Yesterday may have filled a gap for now but still more than 3 hours to go. A close above $26 may bring momentum guys back. Trouble breaking $27 recently so for now I guess you buy around $25 and sell near $27 unless some powerful story shows up to change that.
This was a pump and dump based on the analyst pumping the possibility of other big names signing agreements too and the small float with momentum guys plowing in because of that float knowing shorts would cover. Do you understand this was 10% of their revenue and the stock was up 100% in the AH? Until others sign with PXLW this will fade. The stock is in the $7.30's right now so either sell and buy lower or hold and buy more under $7. Your gains are about to evaporate.