But for sure, he should at the very least back up his assumptions with more than feelings....
I retired from 30 years as a broker....and when it comes to junior companies, placing true value is just not possible, as it is all based on future opportunity.
So, you can not say that Technicals don't work here, nor can you say that it was not worth $3. and I say this with due respect otterman...because, the stock shot up and had a 50% retracement which is text book, it bounced off that number as it should, and now we have just re-tested the same level where it will find support. I am not a chart guy, but these few simple price points are where big money gets to work and usually not before. It works because they say it works, so they move prices to that point, unless interupted by something unexpected, like a particular news or event.
They priced Linkedin well above original target for IPO and then the market priced it double that again, so even though $3. could not have been justified, given fundamentals, it was based on appetite for Social Media, and the potential INT offers with continued solid growth ....
If the app for Outlook works and is accepted then $3 will only be a shadow on the trendline
Completely agree....early days.
Cheers
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