Boy oh boy was today(and this week) a terrible week for the markets. More failed morning spikes than I could count and nothing but red on my watchlist. Nontheless, I came out of this week with no losses and confidence for going into the next week.
Last night I was holding $GLUU because of the Taylor Swift news and price action I saw yesterday. I was spot on, however, there was still no spike due to the overall market failing as a hold. I got out at 2.75 for an $11 profit and left that ticker alone.
Today, everything was failing. I watched the market as I saw only about 3 tickers above 10% green on the day. Nothing was good at all. Earlier pre market however in the chat room, someone alerted that $LF was a premarket mover due to the merger it has with VTech. I looked it up and it seemed quite nice. I watched it the entire day as it failed to do anything. However, I was really liking how it was able to hold its gains all day. Despite the overall down market, it didn't crack at all. Although this was nice to me, I wanted to do 1 of 2 things. Either buy on a dip so I could hold over the weekend, or buy if the stock finished strong and hold over the weekend. I did the latter. As such, I am holding a very small position of $LF over the weekend looking for a gap up. Hopefully next week is much better to us. See you all then and have a great weekend!
look forward to your follow-up post Brandon!\
I have held LF for many months now on hopes for a good Holiday season, but nothing till today, but still less than what I paid. The problem with LF is VTECH only wants to pay shareholders $1 per share, so that's why it sits right at $0.97. Hopefully another buyer such a Mattell will step in and offer more to the shareholders.
@togmaster I see. Still though, VTech is a billion dollar company compared to the small LF. Not to mention LeapFrog has pretty good products, the news of the merger should spread over the weekend and cause some hype(or at least that's the plan) and if it doesn't, I'm cutting losses quickly. No point in holding these ty pes of companies for many months hoping they will do something because more than likely they will fail
I do agree, I have been ready to dump this one for a while.
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