$PATH
Added 2024-05-30 09:58:35 +0000 UTC$SNOW announced a leadership change with their earnings report and the share price dropped like a stone, $PATH has just made the same announcement and gave a weak guidance and the same thing happened.....I believe this is incredibly careless and very unfair on share holders who need to sit holding their bags for the recovery, if it can come.
$ARK made a mess of this earnings report too, they bought 400k worth of shares the day before the earnings release and it has dropped -30% post earnings
Needless to say lets take this lesson and remind ourselves not to play the earnings game.
The price was already in its corrective wave so there was clear uncertainty and now the ABC correction is all the way down at its last Fib level at the 0.887 Fib.
Not a buy right now while support is still not found.
Comments
This was many lessons in one. For investors and you said this already Cap, do not trade around earnings, this can’t be stressed enough. Secondly, do not follow large funds actions, especially ARK, they have a long record of making terrible moves but unlike retail investors they can screw it up and not loose their sleep (for now). As for the company’s management this was incompetent and irresponsible as it can be, knowing this, they should have made a pre-announcement, similarly for $CRM.
Carlos Callejo
2024-05-31 08:51:08 +0000 UTC
