Seeking Alpha

Leap Wireless (LEAP -10.3%) and MetroPCS (PCS -7.2%) are downgraded to Neutral by J.P. Morgan on...

Leap Wireless (LEAP -10.3%) and MetroPCS (PCS -7.2%) are downgraded to Neutral by J.P. Morgan on worries about saturation and competition in the discount wireless market. Both stocks have shed about half their value in four months.
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Comments (2)
  • Baeck
    , contributor
    Comments (71) | Send Message
     
    I love the downgrade AFTER the 50% drop in value.
    1 Oct 2009, 01:39 PM Reply Like
  • MonroeTrader
    , contributor
    Comments (41) | Send Message
     
    That seems to be the way they operate.You sell after a downgrade, they buy, run it up 80%-100%. They then upgrade it so they can sell it back to you at a premium. And then the cycle starts all over again. They downgrade it again saying it's overbought.
    1 Oct 2009, 02:10 PM Reply Like
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