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This looks like a YELP move in the making
I thought the same thing when RNA got whacked. I bought 12.50 calls when it was 8.70...kept dropping to under $4 and hasn't gotten off the floor yet
If this gets the same punishment on price that RNA got then there's a lot more downside here in the coming weeks
I don't know about $3.75 short term but I think it will be hard pressed to hold $10 through the end of the week. JMO
From the articles I've read no they don't
29.97
How do you register for the chatroom? I click the link and get a sign in page but don't see where/how to register. TIA
Traders loving this action. 20 million shares in just over an hour
Yes the beatdown yesterday was as I thought, someone spooking the herd. Probably shorts looking for a lower cover and big players that know they can drive prices down when they want to buy, lol must be nice to be able to create a big discount for yourself---who pays retail when they have the power to move prices??. Convince the sheep they're headed to the slaughterhouse when in fact it's a lush green pasture ahead of them and vice versa.
Notice how seeking alpha just had to put quotations on the word positive this morning? Gotta love the market.
Thx to all who suggested a 7.80 support btw! I made my reentry at 7.84 after prematurely cashing out last week at 8.20
And thank you to you sir for bringing it to my attention that JCP is in financial difficulty. :)
S&P 500 1560 to 666 to 1775. I get your point now, it's all based on the fundies. lol glty with whatever trading strategy you're comfortable with, I hope we all prosper
Sorry, maybe you're too young to remember the dotcom bubble or all the scandals. And you must not read about all the fines and jail sentences and investigations going on that hit the news on a weekly basis now. Or about the high speed trading and dark pools and insider deals... I'll check back with you in 5 years and we can compare notes on how well the stock market price swings have tracked legitimate fundamentals. Too funny
Lol, you are correct because if they did most of the high flyers today would be trading at nickels and pennies instead of 100's of dollars. Does the dotcom bubble sound familiar....? It looks a lot like that today, stocks get run up and run over based on who is manipulating them and how many cronies are in on it. More of a carnival midway game than investing based on fundamentals. Nobody woke up this morning and suddenly realized over their morning coffee that JCP's numbers are bad, that's really really old "news".
Numbers are nice to look at but seldom have any real bearing on price action (only imagined if it suits the gurus)
If numbers spoke for themselves we would have a DRAMATICALLY different price structure in the surrealistic stock market of the last 20 years lol
something (someone lol) spooked the herd today....anyone see anything besides old articles or recycled propaganda?
Anyone know if any of the big players still own any or did it all get dumped before it goes to a dime or less?
actually most death spiral shorts intend to never cover since they know they will never allow the price to rise again...technically this is not a "death spiral" by definition but it may as well be as the result is the same. Someday after massive dilution and multiple reverse splits there may be something trading but it will be at 1/100th or 1/1000th of what the shares were worth . I doubt the MM's are worried about naked shorting gdsm and anyone that buys at .0002 they go ahead and tell you u bought it and put the $ in their Christmas party fund lol
I read that ackman cashed out his jcp for a big loss but not that he went all the way over to the short side... where was this that I missed it?
also costs you a lot of money and opens you up to a countersuit you have to pay to defend against as well...never gonna happen with no pot to collect from
nobody sues someone that has nothing to recover...all gdsm has is already issued judgements against it ( huge negative net worth) that the plaintiff hasn't been able to recover and prob never will...no lawyer will take the case
Disagree. The market doesn't move on fundamentals and filings anymore. It's all about popularity and what the glamor investors say now. Throw out charts and textbooks based on a 1970's stock market. All the factors that are "supposed" to determine price and volume action are dead (for the most part anyway, fundamentals only matter if someone BIG cites them and tell the sheep they matter). The thing that drives the market now is hype and computer manipulation ( which they spend billions on making sure their computers trick your computers into doing what they want). If Carl or George or Warren wont step up and put their name on a buying campaign then someone ought to start some rumors that kanye and the kardashians are buying and Bruce Jenner was seen at the cosmetics counter yesterday at the LA store. Improving margins or positive filings etc will only produce a temporary blip until the powers that be decide to move the price one way or another.
Welcome to the 21st century :)
To be fair, the main reason this fell as far as it did is that a light was shined ( shone? lol) on just how worthless the stock really is. How many millions of $ in judgement and accumulating debt?? And that debt represents 50 BILLION shares at current bid.... 50 BILLION! At least that's what I've concluded, I'm sure there will be lots of posts correcting me :)
Only reason most of these pos sub pennies get successfully pumped is that there is enough mystery that people will buy on the unknown possibilities.... anyone that looks at what is now public info on GDSM can see that there is no hope for the current shareholders to ever get back their money barring an act of God ( aka a miracle). And that's precisely why the pink stock companies guard their info and rarely say anything of substance.
How many of you would accept the position of trying to resurrect GDSM unless they were offering you a decent salary to make the attempt and knowing you have nothing to work with given the deep deep hole that has already been dug? We should give Mike a break and refocus the blame where it belongs and that's on lovito who is the real culprit and only hired the new guy to try and get his personal obligation on that debt cleaned up.
I wonder if I can get a job with GDSM? I'll do it for half what they're paying now! Just want to state up front I'll need to sell 50 million shares a month into the market a month just to cover this reduced salary amount and get my paycheck.. Otherwise KMA! I don't need the abuse that will automatically come for taking the wheel of the Titanic like I was the one who steered it into the abyss! LOL
...I'm not lying! I'm failing at being transparent... priceless!
That's hilarious! You believe a pr when every pr they issue eventually turns out to be false and the stock price is on the verge of being untradeable-- .0001!!!! You sir are quite the trusting fellow! LOL at least he admitted he failed at transparency...thats a great one. I'm going to use that when I get caught in the future
They prob won't file BK as what has happened in the last year and is feverishly occurring now is effectively a BK as far as the previous shareholders are concerned. The old shares are being wiped out by dilution, new stock is being issued and the current buyers are taking over as the new shareholders. 1:100 to 1:500 RS inevitable soon and then even more shares will be issued until there's a complete new shareholder base, a name change and new mission statement ( probably in a entirely diff field) and Mike will claim victory in his "turnaround" and thus justify a raise and a bonus. In the meantime anyone that bought in the past 2 years will be lucky f they recoup 2 cents on the dollar invested. Sounds like bankruptcy to me without having to file at least from a shareholder's perspective. Lol, running a publicly traded penny stock is a license to print money, just play the game and act like you're really trying to run a viable company. Nothing new here except that not even the penny pumpers can get this beast off the verge of no bid....yet. They will after the RS... or the next RS after that
Too bad they had to issue those new shares, the larger the os the harder it is to squeeze the shorts. The low float bear traps are almost impossible to kill and are one of the most popular trading strategies of late----find a stock with a small OS structure and a lot of short interest and kill the bears, whether it be with a short squeeze or selling a ton of puts that expire worthless---(like NFLX, LNKD etc although that's getting a long overdue smackdown today). Yes they needed the liquidity and the cash on the books to calm creditors, but the downside was in adding that much dilution they gave the shorts the courage to go after JCP in a market that has been gang raping short sellers for 5 years now lol. Soros should buy up another big block and announce it, that might start a squeeze if it's sizeable enough
thx for the post. good info. Must add though that the analysts and cnbc pumpers/bashers et al reference whatever information is convenient to achieve their goal. The last thing you get is unbiased "analysis". It's not just trailing earnings and old news. When they want to pump pieces of garbage to the stratosphere ( which they have been and continue to do every day it seems, just look at the dotcom like bubble they've made yet again lol) they do forward earnings projections one, two or even three years out and ignore the current and past losses! The shameless $1 prognosticator is just a different flavor of the ones that keep raising targets on companies awash in red ink that have already tripled in price. There ought to be a way to hold these firms accountable for the disingenuous "reports' they issue that are clearly designed to reap huge profits for themselves and their clients whether it be pumping or trashing a stock. Either way it's bs manipulation and borders on theft
oh and not to be disagreeable but I have never seen the analysts follow the price, quite the opposite--- they tend to publicly announce where they want the price to go then have their sheep and cronies follow thru and make it so lol
I like grumblings better in this instance-- referring to how transparent and orchestrated the take down was. Although these people rarely criticize any of their own in public. Be nice to have an ichan/ackman herbalife type pubic spat erupt however unlikely that is lol
Needs a big player or analyst to make some positive grumblings to offset the orchestrated fear and doom broadcasts of the last few weeks. Until then the shorts can nail it at the resistance levels and scatter the sheep
Needs to break through $7.50 resistance and hold then on and do the same at $8 then the squeeze will be on. Otherwise the shorts will start piling on again and take it back under 7
Someone or some group is trying to get this noticed so they can run it. Not much real money changing hands, just painting it with volume.
Could be good for an ECOS style pop tomorrow or monday or could fall flat on it's face.
Oh and I left out the "analysts" that so honestly give opinions about reasonable price targets. Wish I had a license to steal like that. Take my position and then tell the public what price to take it to so me and my clients can buy new beach houses...
You have to remember that the same players that shorted it also wrote call options both ways and want to watch them all expire worthless in addition to being able to quietly cover at leisure, so this baby aint going anywhere but sideways for a few months. They'll laugh about it after a round of golf with the MM's at the country club this weekend and make a tentative time table when they'll let it go back up along with all the others they're manipulating...oops I meant "investing in"...lol. Gotta love the system!
lol, that's been the battle cry for the last two weeks....and even way oversold it sinks to new lows every day. My prediction is 4.50 before they begin to cover. Won't bounce til the players in league with the mm says it bounces...and then they'll determine how high and for how long. Throw out the charts and the technicals and the 'shoulds'
Big guys are still shorting this down because they know they can and they will know way in advance before any news that will drive it up will hit so they can quietly cover then load up the boat long and make even more $ going back up. Sadly it's the way it's done on Wall Street. Nobody to keep them from doing anything they want.
More honesty and transparency on the carnival midway lol.
I have been trying to place a buy order since 1:00PM but get a rejected order status from my broker. Maybe trading was halted due to the cc?
LOL. Yeah That would run to a buck easy
A little disappointed that the RM in the works is still in the Gold mining business. Not a promising place to be right now. Think they'd do much better taking into another industry, but there's still a pop coming here. Just not as big as hoped.
Ok you win.
I've been deluded the last 15 years of trading.
Thank you for correcting my erroneous thinking.
'Ignore that man behind the curtain...
I'm referring to DECADES not just the last headline.
Believe what you want, as will I. Go win yourself a giant teddy bear in the midway for $1 lol. Don't worry, they'd never cheat...they might get in trouble