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Pending political events, the market waits in anticipation.
Tomorrow. Or maybe the next day? Next year. ..that's when it will happen.
Bearish pennant forming on the daily chart?
I hear you mate, but get ready tomorrow, this one's gonna blow my friend
What's a potential catalyst? The buyback was a bust. Reverse split is likely. So, I just don't see one. They obviously can't compete with Amazon, and will continue to lose customers to amazon as their customer base is primarily loyal genx from pre-web 2.0 era, and millenials and zoomers were born too late and don't understand why they should shop here, if they even heard of it at all.
I think so too, but time will tell.
NEGG...........................https://stockcharts.com/h-sc/ui?s=NEGG&p=W&b=5&g=0&id=p86431144783
NEGG: This stock is poised for crypto, nvidia-card growth
Now that several colluding funds have failed to bring home the 'rs' trophy, Newegg is poised to skyrocket well above $10 per share on streamlined financials, advances in machine learning and advanced intelligence in house and to the rapidly-growing consumer base, rare acceptance of bitcoin and other cryptoassets as payment, and amazing Nvidia graphics card revenues due to prices that crypto miners love.
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$NEGG - something big must be coming. Over $1.00 now
$NEGG - looking good and ready to run!
If only they would stop inundating the market with form 144s, this could actually recover.
NEGG: Earnings Updates. Bullish! SEE IT:
Earnings:
1. New robots now helping internally ✅
2. Expenditures are reduced ✅
3. The $10 Million Share Buyback has not yet even begun ✅
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NEGG: Reports that Newegg could 'squeeze' back to $80
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GameStop could "buy out Newegg" via stock -Analyst
#NEGG 🔥 80% this week! Watch next week for move $NEGG
I tend to agree with that.
NEGG: Newegg technicals show "strong uptrend developing"
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NEGG: Announces $10 Million buyback of shares. LOOK:
According to Newegg's form 6-K filing on the share buybacks, it's $10 Million worth of shares to be purchased.
The float before buybacks was only 19.84 Million shares available on the market...
Today the average price of the stock transacted at around $0.70. Assuming that buybacks hypothetically occur around this price, then 14.3 Million shares would have to be bought, thereby reducing the number of shares available on the market (the float) to around 5 Million shares, or just over $3 Million worth. In that case, it would only require one investor with just over $3 Million to 'lock' $NEGG 's float.
Yet, according to Ortex, Short Interest in Newegg stock was around 1.51 - 1.87 Million shares, with another 1.23 Million shares in short volume on Tuesday, November 13th. So, as of now, there could be over 3 Million shares short. How would these short positions be able to be bought to cover if the shares are nearly bought up? How would these short sellers be able to close their short position if the shares are not available?
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NEGG: $2 Billion revenue annual, yet only $260M cap?
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This stock is firesale price rn. Just bought at 83.9 holding until green
This could use another NVIDIA surge.
Newegg Introduces Graphics Card Trade-In Program
https://www.businesswire.com/news/home/20230926386865/en/
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NEGG: Newegg Price consolidated above $1. Now Discounted.
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Is Chang still banging out those Form 144s?
NEGG: Newegg is the 'Nest-Egg'-maker stock: Safe&Investable
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NEGG: Quick shot to $6.00 is not out-of-the-question...
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NEGG: Leads the way in implementing AI for e-commerce
NEGG: New Newegg Artificial Intelligence ShopGPT
https://finance.yahoo.com/news/newegg-launches-first-computer-shopping-125500193.html
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Oh stop it already
NEGG: $1.50. Then $2.00. Then $3.00. "Very-Soon"
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NEGG Uses AI for New Online Shopping Experience..SEE-IT:
https://finance.yahoo.com/news/newegg-uses-ai-build-online-122000354.html
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NEGG: $2 Billion in routine sales per annum. Efficient.
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NEGG: This discount to value is nontrivial. It's substantial.
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NEGG: Newfound bull trend is now-confirmed by successful retrace
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NEGG: I added more on this short term Fibonacci-retrace
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Oh it does take money to make money... but if it takes more then ya make someones going to get burned and its usually shareholders
Hey i do hope you're right but lets see if we can get up to 2 bucks before we start really cheering