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Coinstar (CSTR -3.2%) trades lower after ITG Research revises its estimate for revenue based on...

Coinstar (CSTR -3.2%) trades lower after ITG Research revises its estimate for revenue based on what the investment firm thinks are weak sales trends for CSTR in March.
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Comments (6)
  • Esekla
    , contributor
    Comments (3110) | Send Message
     
    Umm, the link goes to ITG's twitter page, but I see nothing there even remotely related to CSTR.
    18 Apr 2013, 11:32 AM Reply Like
  • FairviewCap
    , contributor
    Comments (59) | Send Message
     
    This is sketchy. Shorts have been layering in volume over the past week in anticipation of a broader market sell off. I would look into some possible conflicts of interest between ITG and some of the parties who have short interest in the name.
    18 Apr 2013, 02:35 PM Reply Like
  • FairviewCap
    , contributor
    Comments (59) | Send Message
     
    seriously, this is pretty suspect
    18 Apr 2013, 02:36 PM Reply Like
  • FairviewCap
    , contributor
    Comments (59) | Send Message
     
    great opportunity to start and/or add to a position. any down move will be short-lived "pile-ons" so they can cover. smart money is just taking advantage of this gift and the fact the cover will be exacerbated because of this price action
    18 Apr 2013, 02:41 PM Reply Like
  • FairviewCap
    , contributor
    Comments (59) | Send Message
     
    who posted this? Chanos?
    18 Apr 2013, 02:55 PM Reply Like
  • FairviewCap
    , contributor
    Comments (59) | Send Message
     
    I find it interesting that ITG said CSTR revenue was tracking above estimates in July 2012 when the stock was trading in the high 60's, then lowered estimates in late September when the stock was trading in the mid-40's. Following both revisions, we saw price action that suggested contrary scenarios. If you had initiated a position in July 2012 based on ITG's bullish call and sold in September 2012 on their bearish call, you would have realized a 32.5% loss. If you sold short in September 2012 on their bearish call and covered your position yesterday on their new "revision", you would have realized a loss of 22%. Either they need to revisit how they do things, or you need to question the motive behind these calls.
    19 Apr 2013, 12:04 PM Reply Like
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