Who in their right mind would be buying OSTK right now? WHO ARE THESE PEOPLE???? Never made a profit, earnings down,down,down,down .... Ok, you may believe they have a future, but at least wait til its trading at < $10!
Does anyone know how I can aquire a list of the worst performing companies? Say, negative earnings growth for the past 20 quarters?
i wouldnt buy it, but i would sure as hell trade it. high volitility..good liquidity, could be a good short play. there is all kinds of creap people buy or sell for different reasons. look at citibank... until about a week ago nothing but choppy, crappy, sideways movement. that is the largest most profitable bank in the world. the same can be said for intc and msft. big fat companies with awsome sumbers...but that doesnt always affect the stock price. prices move based on group psycology..and the interpretaion of the numbers...not the numbers themselves. but to answer you basic question, market makers. lots of institutions take the bid and the ask all day long to create liquidity. doesnt mean people are buying and holding. it looks like OSTK has more pressure on the downside..indicating there arent many long term holders of it. more pressure to sell than buy.