Seeking Alpha

Himax spikes on BofA/Merrill PT hike

  • BofA/Merrill has raised its Himax (HIMX +3.6%) PT to a Street high of $17.50, and deems the progress the company has made with its LCOS microdisplay business "highly encouraging."
  • Himax has shot higher after spending much of the day in negative territory. Shares rallied to new highs three weeks after Google began offering the $1,500 explorer edition of Google Glass to All Access music subs. A full commercial launch is expected soon.
Comments (5)
  • berniespear
    , contributor
    Comments (236) | Send Message
     
    hope everyone got in for the next runup!
    21 Jan 2014, 04:20 PM Reply Like
  • millsy1
    , contributor
    Comments (97) | Send Message
     
    Added some today and because the stock market works in mysterious ways, i made sure i have funds left just incase it goes down tomorrow. U never know these days
    21 Jan 2014, 05:28 PM Reply Like
  • jwsmith54
    , contributor
    Comments (2) | Send Message
     
    hopefully some exciting days ahead for all of us stockholders!!! Finally!!!
    21 Jan 2014, 07:02 PM Reply Like
  • THE HAM
    , contributor
    Comments (2) | Send Message
     
    If shareholders can exercise restraint and not jump on the profit taking bandwagon, I believe this has a good chance to do what it does best. Seems as though whenever there is a 1-2 day run-up such as started today, people feel compelled to take profits and then down she goes again. Give it a chance and it will take good care of you!!!!! Patience.
    21 Jan 2014, 10:07 PM Reply Like
  • haschultz
    , contributor
    Comments (691) | Send Message
     
    First, I suspect this upgrade is after Bank of America had their "one on one" talk with HIMX so I suspect there is little guesswork in these projections.

     

    Second, look at the last two days of December 2013 for what short squeeze can do during end of quarter/year window dressing when ~1.9 million of the 12.5 million shares short covered.

     

    I suspect these shorts all lost money and perhaps some came back in early Jan 2014 wanting to reclaim some lost funds, the chart lacking support and for the same reason they shorted at $8 and $10.

     

    So, on 12/31/2013 there were 10.6 million shares short and I suspect there are more now. They have to be nervous with this report so we could get a bit of a squeeze here.

     

    Long term, shorts and short squeezes don't impact the price much but they do in the short term. I sold covered calls toward the end of 12/31/2013 trading day (Jan 2015 $20 for $2.85) which are now well profitable.
    22 Jan 2014, 05:07 AM Reply Like
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