The best case scenario for this stock is to pace the NAZDAQ. When the NAZ was last at 4000, EGRP was in the $25's. The falling NAZ took EGRP to a low of $13 1/8, from which it has recovered to a less than stellar $17 and change. However, I suppose if you bought at $13 1/8 you are happy. Unfortunately, the people who bought then were mostly the shorts who covered some positions. Longs were either forced to average down from positions from $72 and down - hardly making a profit on the $4 bounce from $13.
Over the course of the next year, EGRP will move as the NASDAQ moves, since EGRP seems now permanently tied to any bull market perceptions and increasing? volumes. Stagnant NAZ = low volumes = languishing EGRP. Strong NAZ = higher volumes = strength in EGRP. However, most of the time even with a rallying NASDAQ, EGRP will fail to rally, indicative of the weakness in the company and its management. And incidentally, the website is down today (again) when there are some ecommerce plays to be make today.
Again, short with impunity on any spike. |
