Back To Previous Highs IT is just way too undervalued at these prices, simply put, it's trading at HALF the multiple of its peers and industry while demonstrating much higher and greater growth prospects. Makes no sense.
Now that Short report is out of the question, MIP is wiped, JKF is being replaced, and Amaya's CAD21 bid is in the picture, I'm expecting IT's SP to skyrocket.
Few months ago, IT went from $6 to $18 in a span of a few months. The business today is astoundingly better, showing greater numbers, better growth prospects, and operational excellence. I'm expecting the SP to slowly consolidate back up as funds begin to buy back in. Post quarterly results in a few weeks, I'm expecting IT to be hovering back at the level it should be, if not already there as the time comes.
Given overall market positivities surrounding oil prices and market strength, if a combination of everything mixes in well and continues to hold, we should be seeing Clear Blue Skies for IT within the next couple of weeks.
GLTALs.
In terms of taking profits, IT during it's strong times, never went back down after climbing up, so as you might expect it to be in the reds tomorrrow, chances of it being in the greens tomorrow is highly and very likely.