Wednesday, April 11, 2007

Shorting a joke of a market cap!

My attention was brought to from the BloggingStocks blog, after an analyst downgrade. Looking into it briefly, this company has basically never made money (P/E of 11,137 anyone?) and yet is valued at $5.12bn...yikes! So is a sell...sold ~£23,000 worth, with the stock trading ~ $44.16.
Was thinking of shorting twice the size, but find it interesting that it's only down about 2.5% on the day. Will keep an eye on this P.o.S.
Fyi, the 52-week range is 21.60 to 50.40, so this is looking like a decent entry.


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