I don't think that this stock will be back at $140 by next week, or
next month, or next year.
The Cabot newsletter has totally lost it's credibility on this stock,
they are (in fact) under suspicion of acting in collusion with the
PRST officers in rigging the stock price.
This is a momentum stock that people were buying because it was
moving up. The incredible run-up was a result of market mania and
the awesome power of a really good short squeeze. It's not going up
in price any more, and for a momentum stock, that's fatal.
If fell -12 on Monday, -16 on Tuesday, -25 on Wednesday, what's
Thursday going to be like? It's not just that the price is falling,
look at the trading volume, today almost 2 million shares, that's 10
times average daily volume.
Presstek really is the stock of the decade, but not in the way some
people think. It will someday find it's place ranked alongside such
all time greats as Centronics, Howtek, the Dutch Tulip Mania, and the
South Sea Bubble. |
