I’m shorting the stock and will not close my position until the $80s. Why the $80 if everyone else shorting the stock believes it can go lower? For two reasons, one when shorting I strongly believe in not been too greedy or trying to go “with the flow”. Two, I believe it will go even lower, but I rather secured profits at that point. The price will continue to go lower, specially after a few more market corrections and once a few negative news come out of the company and outside the company which are always almost a given. Negative press and negative news together with massive losses, a lot more competition and so on and on will bring the stock price to about $45-55. At that point and time I will open a long position. Yes it will take time, perhaps a year to get to that price, but that my friends is call investing. Investing takes time, and planning.
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