No volume post earnings, big spread between bid/ask, no traction on a big up day for the market. Expecting a slow decay as momentum traders lose interest. Target $41, lower if the market tanks after this dead cat bounce.
Is the bounce over or gap fill? Dying brand but dividend is still 4% even after they cut it in half. Seems like it ought to drop a buck or two in the next week.
Didn't drop today, huge short interest. Looks like a lot of covering, can't imagine anyone would want to go long on a dying business. DKS reports tomorrow morning, we'll see what happens there. Retail will be watching Dicks in the morning, lol.
Guessing this closes one gap or another after earnings. I'm guessing down, P/E ratio of 28 is way too high for an auto auctioneer, Carmax (CMX) already ate **it, pattern is identical.
Expecting it to hit bottom again after earnings
Drew up something similar for NFLX and it hit the target on the button. If charts are to be believed, AMZN still has a ways to go, which means it will be a huge drag on the market. The last time AMZN missed targets, it traded down then sideways until the next earnings. I don't expect a big up movement until then. No position, thing just costs too much.
Up a ridiculous amount barely beating estimates. With the lack of liquidity in the market, this should head right back down to low $40's by next earnings. There is a chance it can reach ATH before tanking though I doubt it.
Don't think it'll completely tank, but I figured yesterday wasn't the bottom.... No position, just an idea.
If they make a profit, it's back to $11