Thursday, March 8, 2018

Creative - Co Founder Cashed Out

Creative started to have a gradual and consistent sell down yesterday. From the chart, there were too many retailers chasing with a gap down and subsequently profit taking emerged. From there on, it was sell downing gradually until it was so obvious that the buyers could not support the stock where one of my student shorted it for a quick $1250 intraday profits.

The news was released yesterday after market. The Co Founder started selling his shares at $9.04 which was the reason why the shares started to tank. I was pretty surprised and dumfounded by the news as to why he sold since Creative found the holy grail on their Super X-Fi Head phone which could potentially rake in high volume of sales. What ever it is, if founder or co founder is selling, it's usually bad for the company. Not trading the shares anymore.

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Update: 8/3/2018, 11.10pm

Creative gap up and plunged further in the morning!

Ronald K - Market Psychologist - A Stock Market Opportunist