As of this writing the stock stands at $24.46 up $8.16 from my $16.30 initiating on 1/9 this is now up 50.06% in just 22 days.
Yesterday I suggested you put a stop loss in at $22, I am now telling you to up your stop loss to $23.25. Even if the stock takes a hit to that price you will gladly take the massive profits.
The question was posed do I think the price of the stock will go up after the launch of the network. Right now this stock is in a state of euphoria. In a mere 22 days the company valuation has gone from 1.2B to 1.8B. This is a massive amount of money in a very short period of time.
Before we get to the network open, we get the 2013 annual report on February 20th. Unless there is some really horrific results for the earnings release, I don't think it will matter unless they beat the expectations. If they beat expectations and have surprise earnings, the stock price will benefit.
The market is pricing in an anticipated huge number of buys into the network already thus the action now. The market typically prices in things well in advance of it happening. If the event doesn't happen as anticipated then the stock gets snapped back. If it beats the expectations then we see the pop.
The stock created another 52 week high today at $24.82 if it closes above $24.13 this will be the highest close since it's inception in 1999. The all time high price of the stock is $34 on it IPO day of 10/1/99 it closed at $24.125 that day.
With the way the stock is acting, I see more upward move but I would tread cautiously at these levels.
