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SVTPerformance's Chain of Restaurants
Road Side Pub
SVTP stock pick thread.
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<blockquote data-quote="MG0h3" data-source="post: 16566658" data-attributes="member: 164690"><p>Who knows man. </p><p></p><p>The volume isn’t crazy high, but about 8x normal. </p><p></p><p>Dozens of penny stocks (sub $5) move a similar percentage or more every day. Sometimes multiple times a day. </p><p></p><p>This one just stands out because of the high price. I’m just referencing the bounce from 80-150 and now it’s up 70 after hours. The fact that the 12 month range is 2.50 to $225 is insane. </p><p></p><p>The company is shit. -4.20 earnings per share. 12 month price est for the stock is $12 </p><p></p><p>Basically what’s going on here is lots of people shorted this stock (bet that the price would drop) because the company is in trouble. From what I’ve read, a large group with a huge following on Reddit got a lot of people to buy the stock. This drives the price up and the people that shorted it say oh shit! They have to buy the stock to “cover” their short position at a loss. I suspect this stock also had a low float (low volume of available share). </p><p></p><p>I’m not on Reddit and there is likely a smaller group that runs this group and if they decide to start a push to sell in order to take profits, you could end up holding some very over priced shares.</p></blockquote><p></p>
[QUOTE="MG0h3, post: 16566658, member: 164690"] Who knows man. The volume isn’t crazy high, but about 8x normal. Dozens of penny stocks (sub $5) move a similar percentage or more every day. Sometimes multiple times a day. This one just stands out because of the high price. I’m just referencing the bounce from 80-150 and now it’s up 70 after hours. The fact that the 12 month range is 2.50 to $225 is insane. The company is shit. -4.20 earnings per share. 12 month price est for the stock is $12 Basically what’s going on here is lots of people shorted this stock (bet that the price would drop) because the company is in trouble. From what I’ve read, a large group with a huge following on Reddit got a lot of people to buy the stock. This drives the price up and the people that shorted it say oh shit! They have to buy the stock to “cover” their short position at a loss. I suspect this stock also had a low float (low volume of available share). I’m not on Reddit and there is likely a smaller group that runs this group and if they decide to start a push to sell in order to take profits, you could end up holding some very over priced shares. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
SVTP stock pick thread.
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