They just do not trust it into earnings it's that simple. There have been so many negative calls lately scaring the buyers from coming in.
Sellers came in late even though the market tanked before the close it was weakening by 3pm already. People don't trust it right now before earnings.
People say that a rotation is happening back into yielding stocks but SO can never follow through after a day of gains and you have the 10 year around 2.26-2.27% and SO is floundering today yeah the market is down but you might think SO would act a little bit better. ED even got an upgrade today . I still believe some of this is the cost over runs and finger pointing. It's time for Fanning to go he dropped the ball on a tremendous opportunity handed to him by the administration.
Citron went after QCOR for a couple of years and they lost when MNK bought QCOR. They made up various stories the last being some lollipop report that QCOR's vials did not contain the required amount of the gel that was on the label. Now AMBA is an expensive stock and I would assume a correction will come but Citron is a slimy firm and they will not stop now that they have targeted AMBA.
Was wondering why the pre-mkt strength. Let's see if it holds by the close since the market seems convinced that their earnings will not be good based on the recent ride from over $28 to under $24.
I don't see any. I have a Party City near my house the biggest sales I see them making (besides Halloween time) is balloon sales. The share count is probably less than it was years ago before they went private but this was a near $2 stock back then down from higher levels. Their debt to cash will eventually come back to bite them in time. I may start a L-T short position in the near future before the brokers hold back the shares from shorting which will happen when the stock starts to drop to the teens.