I was just trading in and out of it. Made some money but the relentless selling made me do a lot of reading and its seems many think ABC might be in more trouble then we know about.
Morgan Stanley lending stock is a concern. Do they want to short it into oblivion?
We are seeing some harsh tactics from hedge funds and others so where I see a share continually go down day after day and around 10%....I like many start to wonder when or if the selling will stop and we find a bottom.
Since ABS has fallen so much for so long..it might take a lot more to convince the market a bottom really has been hit when or if it does instead of a fake dead cat bounce.
I see a few talking about ABS being a good long term hold...I question this....I question if they will be around in a few months.
Great company and very sad to see them go if they do go under but the company has hit some rough ground and maybe some stronger forces have an agenda we dont know about.
ABS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
