Anyone a shareholder? What's going on with this one? Fundamentals? It has been falling like a stone. the chart looks bad with no bottom or support in sight. Has all the hoopla over GPS popped? Anyone have any insight?
But there was a wonderful capitulation bounce off the bottom today at 59.25 for a quick 3 points. My thanks to all those who bailed in panic. For any struggling traders looking for setups, pull up a 5 min GRMN chart. Look at price and volume at the bottom before the reversal at 10:50. If you see this similar setup, put in a buy stop above the price. If filled, immediately enter a protective stop, and let it ride.
I have 2000 shares, love love love this company!!! P/E of 19 versus other techs between 40 to 50!! No debt, $1B in cash reserves, expanding into Europe, contracts with auto makers, dominate commercial GPS, world wide leader of GPS, 11 new products this year alone, tricked TomTom into overpaying for mapmaker. Stock going down for similar reasons as all other stocks, fear of recession, potential decreasing profit margins, fear of competition, bottom of subprime worries, STUPID analyst predictions and the bears have had a hayday with this tech driving it down to a 19 PE ration....that;s OK I will continue to load up at these prices, solid solid company with incredible PR. How's that for knowing about the company? anyone else add anything?