Keep in mind too that GROW fell from $70 over a month... meaning it's got a lot of ground to regain still. I still can't believe how FAST it shot up... I bought more at $35 during the 'crash'... and this gain is stomach turning. I have to say that while I've had some spectacular gains on everything I bought, this one is for the record books. This stock is acting like a OTC stock, but with no real risk. And it hasn't even slowed down. Good grief. See, thing about this stock is... NO ONE wants to sell before the split.
Oh My. I'm starting to see the " attraction " people have to this stock! My My. Yes I've never seen a financial quite like it. I left a maybe buy post-it on my computer and when I came back it was $3 higher! And now HIGHER still. Deff: " Train Leaving The Station " - A financial situation in which a stock appreciates faster than you can buy it.
I think I may actually weep. This is bringing back sweet memories of the good old days, when you could absolutely count on a stock doubling in price on a pre-split run. Since the lows in the mid/upper $30's a couple weeks or so ago on GROW, this has surged now nearly 60% in price. Would not be surprised at this rate to see it take a shot at last year's high.
Reverse splits are death for naked shorted companies. Many have tried it to get off OTCBB, or to maintain a listing. The stocks invariably go back to the pre split price. It's been said it's because the margin for the naked shorting is relaxed, so they just raid it harder. I do not know. So many of them fail because these guys either have their hands on the purse strings via PIPES, or have an inside track, and not necessarily ethical. In this case, the split may be scaring the hell out of the Prime brokers. Not only are their accounts, who sometimes are not the most ethical of individuals, have to buy in one share, but now...... I have often thought that in these cases, the shares are more valuable than the money they currently represent. As silly as that sounds, even to me, they know if they don't buy the share here, it could be another double or triple. You see it in BB's that go from 2 to 22, and then back to 2. But if you got bought in at 22, that's little consolation. Anybody that's ever had a short go against them can attest to the intense gastro intestinal stress. How about a supercharged one that can take you to the other side of zero? Oh well. Haven't seen this split in one of these before, and it certainly is interesting.
I know someone who know this name better than everyone else I think on ET hopefully he has been able to manage his risk in GROW on the way up and down ... and I pray he has been able to sleep at night throughout
GROW.. what a freaking nightmare.. I had 2000 shares two weeks ago at $40 and then sold at 37.80. I'm was tempted to buy in at $41 last week and then said it would go down. Hell.. at least my SYX jumped .40 cents today.. WOOHOO GODDAMMIT....
Yup, look at the last run up - all the way to 72 and then down to 39. However, it's a nice ride up. I think this company might be fundamentally sound - it can keep growing. It appears they just started to get serious with the company and started growing it. It was a penny stock just a few years ago.
So whats the play here for tomorrow?... I just put in a limit order for 56.83. If you look at the weekly.. momentum is postive by 2% and will probably increase, and the 50 EMA acted as a support level. http://stockcharts.com/h-sc/ui?s=GROW&p=W&yr=2&mn=0&dy=0&id=p80464941464