Company is priced for bankruptcy, either they figure out a path to profitability or they drop to nothing.
Picked up 6k shares cost averaged at $.57 for kick and giggles, I wouldn't go big on this POS, but there's a potential for a big pop on any good news. Earnings Monday.
If they report the usual crap, it's headed to $.27 or worse especially because it's overbought on the daily now.
Not sure why I keep playing with this POS, but I do.
Picked up 6k shares cost averaged at $.57 for kick and giggles, I wouldn't go big on this POS, but there's a potential for a big pop on any good news. Earnings Monday.
If they report the usual crap, it's headed to $.27 or worse especially because it's overbought on the daily now.
Not sure why I keep playing with this POS, but I do.
Comment:
Not sure why I'm still holding shares...
Usually when a company pre-announces share buyback before earnings, it means there's bad news coming. On top of that, money losing companies shouldn't be repurchasing shares.
Guess I'm a glutton for punishment, we'll see what happens Monday morning.
Usually when a company pre-announces share buyback before earnings, it means there's bad news coming. On top of that, money losing companies shouldn't be repurchasing shares.
Guess I'm a glutton for punishment, we'll see what happens Monday morning.
Comment:
1.3M shares traded today, looks like most of the short sellers covered on the buyback news. Probably won't see as big of a movement as I expected on Monday up or down due to this buyback announcement. Shorts covered but a floor under the stock price.
Comment:
Decided to hold 2k shares for chits and giggles, no updates until it does something ridiculous. Actually made money on the rest of the shares which is funny considering they delayed earnings.
Every now and then you have to buy companies on the edge of bankruptcy and hope they turn it around. Imagine if you bought Ford for $1.5, I know a couple of people that did.
Will add 4k shares if it falls below $.30.
Every now and then you have to buy companies on the edge of bankruptcy and hope they turn it around. Imagine if you bought Ford for $1.5, I know a couple of people that did.
Will add 4k shares if it falls below $.30.
Trade closed manually:
Sold all shares this morning.
Money losing companies with negative cash flow shouldn't be buying back stock. Done messing with this for a while, at least I made money on it.
Money losing companies with negative cash flow shouldn't be buying back stock. Done messing with this for a while, at least I made money on it.
Trade active:
I don't know why I keep messing wit this POS but I do. Bought 5k shares at .40.
Trade closed manually:
Lol, sold for a copuple hundre bucks profit. Looking at the hourly chart, looks like it should head down to $.35 next week. If it does, I'm going all in (10k shares). That's about all I'd want to rish on this POS.
Comment:
*risk...
heck, 10k shares is less than $4k, lost almost that much on CADE this Monday. Fortunately the market went pumptastic and I made it all back this week.
heck, 10k shares is less than $4k, lost almost that much on CADE this Monday. Fortunately the market went pumptastic and I made it all back this week.
Trade active:
Went all in this morning on open, not sure why I keep messing with this crap stock, but for some reason I think it's gonna close that gap at $.74.
Trade closed manually:
Dumped this crap and bought more SMSI this morning.
Looks like the action was about this stock repurchase news, and not earnings. Dumped half this morning, so it'll have to go below $.4 for me to lose money on this trade.