Interesting TradeI decided to get in today. It is a gamble based on the fact that is very oversold and heavily shorted. So if it starts recovering it may jump to $21 or $22 sometimes next week. My sell target is $21. I never invested in this maxr and was tempted to get in yesterday after 40% drop. I am in for a quick trade. If it works good, if not... well...
Bought at $18.01 on the way back up from 52 week low. In fact, last time MAXR was bellow $18 was in October 2008, so today the shares touched 10 year low.
Since low of the day was hit around 12:30 it recoverd 7.5%. That should be a good sign for next week.
I read some of the analyst downgrades today and their target price is 100% up from today's close. In fact some of them had target of $60 last month. When investing or trading never listen to analysts. They don't know what a hell is going on. I feel bad for people who bought this on their recomendation $40 ago. You can't even use a stop loss on something that falls 40% in one day.
If stock falls from $85 to $19 in a year, there must be something wrong with it. That's why I am confused that "analysts" are still keeping a target price so high.
Anyway, I see the share price to settle at around $27 by spring. In order to go higher and back to $40 level company has to beat for couple of Qs.
Good luck to all and I hope for people who did not sell recover their money.
All the best