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Universal Display (PANL -6.4%) is off sharply. Apple's decision to seek U.S. bans on 29 devices...

Universal Display (PANL -6.4%) is off sharply. Apple's decision to seek U.S. bans on 29 devices from top customer Samsung could be having an impact, given many of those devices use PANL's OLED technology and materials. Goldman reiterated a Buy and $61 target this morning. (previous)
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Comments (2)
  • sidney
    , contributor
    Comments (351) | Send Message
     
    The downtrend was in place prior to Apple's request as well as the request already being anticipated by Fosspatents and the like for weeks. There just wasn't any news one can point to with confidence to explain the downtrend. Samsung sales to the USA are minor from a global standpoint anyway (see BI from business insider for the graph). One might suggest that insider trader sales(non-discretionary) were there at the beginning of the downtrend but hardly a reason to sustain it... So the old adage "profit taking" and new adage "new short sales" seems more apt than any news driven reaction.
    24 Sep 2012, 01:22 PM Reply Like
  • sidney
    , contributor
    Comments (351) | Send Message
     
    I think you left out whether someone started front running a negative report released today by another analyst starting about 5-6 days ago when they started hitting the bid relentlessly. You may also wonder if any of the 85% institutional holders of panl care enough to contact the SEC to ask them to investigate.
    24 Sep 2012, 02:35 PM Reply Like
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