Possibly but they may also lock in what gains they still have it could work both ways especially if they feel like market conditions could change soon. Today I see one target at to $5 and one lowered to $3 so pick your poison. It is the 1st of the month so pension money could come into markets but after today it is still May. For now the market is still following oil the futures have been all morning if it was following earnings we would not be at 2065 on the S&P.
The LL 60 Minutes story was over 14 months ago and shares have barely recovered I know because I trade them from time to time. This is not a one day event after the high profile story but HYH does have a small float which may help them.
That Halyard looses many contracts if so then revenue fall off the cliff and business plummets that's what happened with LL since sales dropped off dramatically and that's what the market will anticipate. The CEO of LL Tom Sullivan actually made their situation worse with his words this CEO was similar in his words he nitpicked about that standards were met. Monday should be interesting and this most likely will not be a one day event I just put it on my trading screen. I bet come Monday anyone who wants to short it will now have to pay their broker to get the shares the brokers will hold their shares to short themselves. You can bet that after the story they are already taking action to make shares unavailable they are just as criminal.
What may actually help the stock is the small float other than that this has the taint of Lumber Liquidators all over it and those share went from the $60's to $10.01 eventually after their 60 Minutes story. What's crazy is the sleeves would fall off.
They just called it Fraud. This Dr. Wren who uses the gowns is angry she operates on Hepatitis patients.
Anderson Cooper is doing a similar story on them on 60 Minutes now relating to the protective gowns protecting from Ebola. HYH closed at $28.16 down $3.34 I expect this to act like LL after their story last year. I bet we see the teens on HYH soon enough.
What am I desperate about? I was right about GRPN and pleading with people to lock in gains above $5 and high $4's but all I got was grief and called names. Thank you you have a nice weekend too but GRPN still needs to cut spending so it drops to the bottom line so longs do not endure an 18% drop in one day (which is probably not done) and wipe out months of gains.
This is my last contact from Joe. Nice post no?
Before the open today he said don't give up on Ford despite knowing of the Merrill downgrade from buy to neutral this morning. The action today in the shares was obviously affected by the call they lacked any conviction even as the market recovered late today and the rehashing of the premise that autos may have topped. I bet Cramer's hedge fund brothers used his early pump to short shares today. It's funny I posted yesterday that I thought the bounce after the numbers was too big based on a pretty big revenue miss and Ford usually tops the revenue easily. Cramer has been pumping stocks like crazy despite the possibility of a market top again. Anybody that buys off his words deserves what they get.
Be patient I think managers with gains will still be selling and we are entering the seasonally weak part of the year for markets. The markets have gone almost straight up despite the lack of quality earnings defying logic mostly on the backs of the Fed, oil and the weak dollar. The oil and dollar trades are now very crowded and may be topping and the Fed may start to play the game of hinting about a June hike to see how markets react. I think you can wait a few days at least to get shares even lower than today's low GRPN disappointed investors today and it has very high P/Es usually these stocks do not bottom in one day. Good Luck!
I doubt that managers who are still up are done selling but at some point here it will bottom and like I said earlier Wall Street (guys that are now down) will start the rumors again. I got hammered here a month or two ago when I was looking for near $3 to get back in it just may get there. Remember the events: GRPN posted a good last quarter the stock rose from about the $2.15 area to the $2.80's then the BABA news and rumors took over above $4 and then above $5 soon after. If we see a sell in May and I truly believe it's coming and also oil may be topping soon we will see a decent market correction and who knows possibly a round trip to $3 or under again. I'm watching.
The oils have not rolled over on these down days recently including the bad market day yesterday but it did today. We had a 2 million build on Wednesday along with builds in gas and at Cushing I believe. On Wednesday oil initially dipped and then rallied and continues each day solely because of the dollar weakness. The dollar has cratered at some point that crowded trade has to reverse I think these stocks can start to be shorted when they bounce after the open. I also think that you build a short position on theses daily bounces and in a few weeks ( May is here) many of these energy plays that have more than doubles like CLR will be a nice amount lower.
P/Es matter.......when you disappoint investors high P/E stocks get killed. So many here just ignored that premise and I was pleading with longs to sell over $5 but poster gave me different excuses or reasons to hold. I posted the saying...bulls make money bears make money but pigs get slaughtered. Trapped longs be patient and average down but wait a few days maybe BABA's radar went on after today.