anybody know what in the world caused the carnage over the past hour. I was long NTES from 68.55, was up about 90c, then BAM, stock's dropped $5+ in the past 45 mins..... I got out at 68.25 or so Swish
13:50 ET Sohu.com: details from Piper Jaffray note (SOHU) 33.45 -2.06: -- Update -- Piper Jaffray says their research indicates that a number of minor issues may have slowed the rate of SMS growth down temporarily in Q3 (China Mobile's SMS message growth was substantially below previous qtrs, China Unicom gaining share on China Mobile); however, firm believes that SOHU (and SINA and NTES) would not be impacted by mkt share shift from one carrier to the other, and believes that SOHU is likely to report in-line results when they report on Oct 23, with any shortfall from their SMS rev est very likely to be offset by strong advertising; in addition, firm believes their ests going forward may be a bit aggressive, as they may not have properly factored in Chinese seasonality (Q4 weakness). Maintains Outperform rating and $44 target on SOHU.
Wish I could announce to the world I thought a particular stock or sector was overvalued and then watch it tank!! Of course I'd load up on shorts first....... Surely Piper J wouldn't do that though - that's gotta be illegal!! LOL