04-15-2014, 03:49 AM
M1DD - You have to remember that institutions are generally working with millions of shares themselves. They don't move the price, because they either buy over a period of days / weeks or they sell broker-to-broker block orders at a specified price. If they created a position or dumped a position with >5% of the float in a single trading session, they would lose millions in either direction. They would either shoot the price up and have to pay far more than they intended, or they would drive the price down and make far less money selling their shares. This movement is almost certainly caused entirely by retail.
Kshen - I doubt that. All of us longs are betting on the audit coming back clean, and that position has not changed, any short term day to day price is irrelevant to the long term outlook. The audit will be released within 2 weeks according to NQ, and that should, at the very minimum, bring the price back up to the $18 level. I admit that it is a bit hypocritical for me to say this when I sold my shares last week, but I only sold them so I could take in a small profit and purchase more shares at a lower price, not because I thought they were going to zero. Unfortunately the combination of the market, NQ sentiment, delayed ER, missed estimates, and no independent audit, all combined together to brutally beat this stock, but just remember that this price is only short term.
Kshen - I doubt that. All of us longs are betting on the audit coming back clean, and that position has not changed, any short term day to day price is irrelevant to the long term outlook. The audit will be released within 2 weeks according to NQ, and that should, at the very minimum, bring the price back up to the $18 level. I admit that it is a bit hypocritical for me to say this when I sold my shares last week, but I only sold them so I could take in a small profit and purchase more shares at a lower price, not because I thought they were going to zero. Unfortunately the combination of the market, NQ sentiment, delayed ER, missed estimates, and no independent audit, all combined together to brutally beat this stock, but just remember that this price is only short term.