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Re: Brean and Wedbush pumping
EA
Jester,
I am again hamstrung by not being able to copy and paste links.
But Reuters, article by Terrance Gabriel (googleable, I'll bet) is
a mixture of disinformation (solid franchises and beats in an
industry known to be 'fickle'), and technical notes - e.g.,
approaching all time high, RSI at multi-decade high - denotes an
extreme overbought condition, and speculation (expectations for
blockbusters a la starwars) may be baked into price. Average
analyst target is 67 - but as we all know, those can be raised for
any reason. So, as you note, you've got a company that is
seen as a superstar in the sector, and can do little wrong, except
that technically it looks overbought. Rose 100% in 2014, 40% YTD.
And so, all those insiders are selling because.....? OTOH, a
fair number of board members were trying to guess where to short
GME when it was in the mid-30's. Now solidly above 40, seems that
the only thing one can surely say about it is that it is not
'timeable'. There is always something to pin hopes for higher
numbers on. Perhaps reselling reconditioned fitbits is next.
I wouldn't think to touch either stock, as perception and
reality are confabulated beyond reason, making predictability
impossible.
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