Holiday Cheer from LDK Solar
I must admit, there were times when my conviction was tested as LDK Solar (LDK) management was besieged with Short Selling and Naked Short Selling attacks. When Bill Alpert of Barron’s insinuated this company was based on fraud and that if found complicit they could face bankruptcy, it sent the stock tumbling.
When Carolyn Cui released an article for the Wall Street Journal bashing LDK twice, both times accompanied by a suspicious volume of short selling, the stock plummeted. Goldman Sachs helped the fall when they initiated coverage with a sell and a $35 dollar target. Piper Jaffray was quick to downgrade the stock and issue lower targets – despite issuing higher earnings estimates at the same time. Lazard Capital markets came out of nowhere to issue a sell rating and doomsday predictions.
One of my favorites was the flip-flop of Jim Cramer, on Madd Money, as he changed position and called LDK a sell, sell, sell at $29 dollars. Cheers to you all! Prime contrarian indicators all.
And to all the traders and investors who had the nerves to believe in your own due diligence and buck the trend, Merry Christmas from LDK!
Disclosure: Author has long position in LDK.
LDK 6-mo chart:
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This article has 10 comments:
- User 131257
- 1 Comment
Dec 18 08:58 AM- lumberjohn
- 1 Comment
Dec 18 10:56 AM- kkin365
- 310 Comments
My Website
Dec 18 11:09 AM- alpha24seven
- 170 Comments
Dec 18 02:15 PMYou always allude to all the nefarious and evil doings by Wall St. which clearly shows to all you have no idea how the financial system works.
Simply terrible.
- LDK fan
- 1 Comment
Dec 18 04:25 PM- SDBryan
- 16 Comments
Dec 19 01:02 AM- bigswing
- 15 Comments
Dec 19 10:43 AM- sheikh
- 1 Comment
Dec 20 11:01 AM- solarfan
- 2 Comments
Dec 21 02:12 AMOh, and I whole heartedly concur with alpha24seven above.
- solarfan
- 2 Comments
Dec 21 02:12 AMOh, and I whole heartedly concur with alpha24seven above.
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