What a month! :wow: Anyone in since IPO? Anyone jump out last few days? Crazy. Being short of cash I didn't didn't play. Just observed. My fantasy plan was in day 1 of IPO and out if it got near $40. Would have paid off fine and quickly. What a ride if you had/have the balls to hang in there! :up:
Massive short interest in the stock = parabolic rise in price. So far the price really has nothing to do with the fundamentals.
...And now we've figured out why the JPM traders have been shorting the stock (and manipulating it) http://finance.yahoo.com/tumblr/blo...ut-action-in-gpro-options-that-162815830.html
JPM was the lead underwriter in the IPO. They made an agreement with the founders that they couldn't publicly sell their shares until next year. Founders found a "loop hole" to "gift" a portion of their shares and JPM approved of the "loop hole". JPM took this info, knowing that the amount of publicly traded shares would increase significantly, and made bets on the stock price falling. Their short bets made others take bets against them on the long side, driving up the price like crazy until the news broke today. If this isn't a case of fraud, I don't know what is. The sad part is the SEC won't do crap.
