Despite Blow-Up, Shares of Energy Conversion (ENER) Hanging In There
Up)
Shares of Energy Conversion Devices, Inc. (Nasdaq: ENER) are holding in there despite worse-than-expected results this morning and the removal of their full year revenue production guidance. At last check shares of ENER were down 4 percent.
With shares down 72 percent from their 52-week high, maybe today's action is a tell that it can only be up from here and that shorts are locking-in their gains. Well, at least that's what suffering-longs hope.
The morning, Energy Conversion reported a first quarter first quarter loss of $0.28 per share, versus a profit of $0.27 last year. Revenues fell to $42.9 million, from $95.8 million last year.
With shares down 72 percent from their 52-week high, maybe today's action is a tell that it can only be up from here and that shorts are locking-in their gains. Well, at least that's what suffering-longs hope.
The morning, Energy Conversion reported a first quarter first quarter loss of $0.28 per share, versus a profit of $0.27 last year. Revenues fell to $42.9 million, from $95.8 million last year.
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