Naveen,
SSTI traded as high as $43 yesterday. This stock has just been an absolute rocket.
If you hear any banging out where you are it is just me beating my head on the sidewalk in front of my house.
I am totally shocked. You begin to wonder if some priviledged information is circulating out there. For example, a selective leaking of earnings projections to certain analysts can light a stock up.
Here is how a conversation could go...
Analyst: Are you comfortable with our earnings projections for 2000 of $1.00 per share.
CFO: Yes, (wink, wink) we aren't losing any sleep over them (wink, wink, wink).
Or maybe the stock has entered this cycle where people have started shorting the stock only to see robust upward movements, short covering, further robust upward movements, more shorting, an upgrade by an investment house, further robust upward movement, further shorting, further covering...
If I had nerves of steel I would consider selling short some shares. Since I only invest as a long I, personally, would never do this. I think it is just impossible to time peaks and valleys. For example, nobody ever thought SNDK would go on a marathon run to $95 3/4 this summer and nobody predicted it would tumble back down to $38 and change either.
With SSTI float being so small it is not inconceivable that a rash of profit taking could cause similar price action in the opposite direction with the shorts pushing the stock down rather than up.
Maybe it is just the fact that the flash memory industry as a group is coming into favor and someone is on a buying spree.
Congrats to all who have had patience to wait this out.
Ausdauer |
