Hi...so yesterday UI had a good jump, and today it pretty much lost it. Wondering if there is an actual reason other than Financial Firms having a pissing contest that end up manipulating the market. Just wondering peoples thoughts to learn. Thanks!

Yesterday: Motley Fool: Why Ubiquiti Rallied Today on a Bad Day for Tech

Today: Marketbeat: Barclays Lowers Ubiquiti (NYSE:UI) Price Target to $104.00

1 ...

Report Post

Posted by slackster

Houston

Member since Mar 2009

90105 posts

Posted on 8/27/24 at 1:33 pm to HagaDaga

quote:
Hi...so yesterday UI had a good jump, and today it pretty much lost it. Wondering if there is an actual reason other than Financial Firms having a pissing contest that end up manipulating the market.

Pretty simple in this case. One firm comes out and raised their target to $240, and the stock rallied. Another firm the next day cut to $104, and the stock falls. That’s pretty common price action, especially on a small company. It’s not manipulation IMO.

1 ...

Report Post

Posted by UpstairsComputer

Prairieville

Member since Jan 2017

1746 posts

Posted on 8/27/24 at 2:08 pm to slackster

I disagree. Looks like a classic pump and dump to me. Every stop loss on the stock was clear as day around $188. Exit liquidity, all they had to do was run it up to the stop losses.

If I were in the stock for a trade, my target would've been the $188 level.

1 ...

Report Post

Posted by slackster

Houston

Member since Mar 2009

90105 posts

Posted on 8/27/24 at 2:46 pm to UpstairsComputer

Maybe so. It’s got a very low float so it doesn’t take much news to move it around either way.

Earnings were 8/23 and it was quite volatile that day but moved up nearly 10% once the Powell conference wrapped up. Big volume day too. Another big volume day yesterday saw another 7.6% gain, and today it’s down 10% on lighter volume, but still above the 10-day average.

Page 1