Well, the new CEO is doing what I said needed to be done. Huge cost cutting moves instead of wishful projections on user numbers like the previous CEO.
Short interest declining on the short squeeze, I think it's setting for for an inverted H&S pattern. Long term I'm still bearish and I think they go bankrupt, but it's gonna take a lot longer now that they have a CEO with some business sense.
Problem is, nobody's buying these things. I don't know anyone that's bought one in the past year. Doesn;t mean you can short the stock though, a lot of stocks went up on complete crap earnings like W, RBLX, etc
Short interest declining on the short squeeze, I think it's setting for for an inverted H&S pattern. Long term I'm still bearish and I think they go bankrupt, but it's gonna take a lot longer now that they have a CEO with some business sense.
Problem is, nobody's buying these things. I don't know anyone that's bought one in the past year. Doesn;t mean you can short the stock though, a lot of stocks went up on complete crap earnings like W, RBLX, etc
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No position. just posting this because my followers know I always short PTON, lol.No play here until after earnings, around $20. For longs with balls and patience, that's a 50% return so I'm actually bullish on this PoS.
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LOL, I get bullish on this PoS and it goes red. This is why i don;t go long on garbage stocks.Probably a bear trap though.
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Looking pretty bullish now but PTON has a tendency to fill gaps and there's one below at $11.10. Definitely not going long until it fills that gap.Note
MFI very overbought on the daily chartNote
PTON isn;t strong enough to move against the market, looks bearish here if it breaks yesterday's support and has that gap to fill at $11.1Note
LOL, as soon as the market turned around it went pumptarded. Short squeeze is still on.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.