Yes, I agree. That was odd. I'm not going crazy with ACF either, but I think it is worth holding some, especially after they readily certified financials today. We've both followed this one a long time and the concerns that we have been hearing lately are the same ones we've been hearing quarter after quarter, yet they keep performing very well.
Time will tell.
I find it so interesting psychologically when a company like this can increase earnings by 35% Year over Year, yet tank 78% from recent highs. There was never a warning, never a disappointment in guidance but down it went. It just shows how the Markets have changed over the years. At least in the past, traders would wait for a bad earnings report or warning to pummel or short a stock.
Today, if certain traders see a stock move down after good or decent news, they figure "Oh my God, why is it tanking, there must be some horrible news!" "Why else would it be falling?" "I better sell just in case!".
Fascinating, isn't it? And the large shorting groups, MM's, and specialists know the psychology very well, too. |
