RE:RE:RE:RE:RE:RE:Manipulation theories? What everyone wants to see is stable yoy growth q over q then we're off to the races. Not happening yet for me it's a trade at the right price for now
Yasch22 wrote: With the same respect, NorthOntKid, I've seen a lot of stocks over the years withstand massive short attacks. Shorters can get a proper fire going only when they have the right combination of kindling, even if a lot of that kindling is fake, as in the creation of false perceptions via planted rumours and media articles by paid hacks.
In BB's case, the market cap went way ahead of ALL the valuations of even the most supportive analysts on Wall and Bay Streets. Even when it got to $15 CAD, it was WAY ahead of the valuations of the talking suits, so when it got to $35 CAD it was obvious that the shorts were going to pile on.
What exactly kept a lot of us in at the nosebleed levels? The excitement of riding a giant wave? FOMO -- what if the sp went to $40, $45, $55? The possibility that some big news about the size of the Huawei or Facebook payment?
The fact that Michael Walkley upped his price target from $8 to $10 US (roughly from $10 to $12.70 CAD) would have been seen as an amazing Christmas gift just 8 weeks ago, and his recommendation would certainly have been BUY or HOLD. Instead he's saying SELL, and he has no choice given his parameters. His forecast for BB revenue ($246.3m) and EPS (+$0.03) is available on Estimize.com. He's only slightly higher than Wall St. consensus. According to that point of view, BB is still ahead of itself.
According to the new "progressive" view, BB is still undervalued because of faith in future progress. Right now, the pragmatic old view is re-asserting itself -- but the new believers have probably permanently raised the floor, as we've seen with Walkley's 25% increase in price target.