28 2 2
This stock spiked 28 percent today because of an earnings beat (it's beat was by 67 percent). it opened around 21 and closed around 24. Obviously, it's overvalued. but with it's heavy buying volume , it could easily spike higher tomorrow (based on past price history, after positive earnings , the stock seems to rise a little the next day plus this earnings day had more volume than usual for this stock on earnings dates). Therefore, I'm thinking about going long after seeing what it does tomorrow morning at the open. Remember, look at what the stock's doing at the open before jumping in. For all we know, it could fly high or fall hard. Follow for idea alerts and comment on where you think the stock is heading. Thanks and happy trading!
Comment: luckily i didn't get in at market open because i saw where the stock was heading. should've shorted. oh well...
What makes you say it's "obviously overvalued"? I think it's still a undervalued, and fair value is likely around $30.
jackieboy RW61289
I haven't done enough research on the company to state it's actual value so I take that back. By overvalued, I mean the announcement is overvalued. An earnings announcement shouldn't send a stock soaring that much in one day yet it happens so I think the stock will come back down to show the real value of the deal, not the company. Hope this helps and thanks for your comment (comment again if you're still questioning the idea). Glad to make that clear! Happy trading!
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