anyone else seeing this as bullish? RSI trending higher, once it breaks the wedge it could pop 20-30%
Can you please explain how the chart pattern will lead to more sales of Gopro cameras &/or new products in a non-saturated market &/or the materialization of a wildly dreamy (if not financially successful) social side-biz? Then from there, please show how we get to portfolio managers buying the stock (as opposed to the yeehaww it's going to the moon stock-jockey). IDMS : "it don't mean 5h!t" I would be very careful with this one, it was brought public with the implication of another (wildly profitable / growth-ier) side business developing - Either via some social/media theme or a visionary Mr. Woodman a-la Steve Jobs - The valuation assigned to the shares was mis-placed optimism, wildly so. Mr. Woodman deserve credit for becoming a billionaire, don't get me wrong. But a lot was assumed and frankly I see no rational reasoning as to why that was. The low end of the (initial) IPO range was 21$ if memory serves me well; knowing that if you are marketing your company to the public you ask for a good bit of cash one would think this number valued the business quite richly. I'd say that number gives us some form of reference point to value the shares. And do not take for granted the type of investor involved here, a lot of very fickle individual dreamer investors bought these shares at higher prices, any bounce is likely to be met with sustained selling. The proverbial "falling knife" IMO - But I could be wrong
Just how many traders do you think are short that stock and just how many glam-chasers do you think would hop right on given a breakout to the upside? Forget about fundamentals.
Like the company, but competition is getting really tough. Valuations have come down and are no longer that optimistic, but still far away from offering a margin of safety. I guess I will just sit and wait if it goes down more.