VeriFone (PAY) Dips as One Analyst Suggests to 'Get Short'
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VeriFone Systems (NYSE: PAY) is showing some notable weakness Wednesday, dipping as much as 8.8 percent on the session following one analyst calling for traders to bolster short positions.
In a daily note issued today, former Lehman Bros. head technical analyst and Renaissance Macro principal Jeff DeGraaf said VeriFone was one of its "short candidates," suggesting technicians do the same on the stock. He didn't give reasoning on the suggestion, according to Dow Jones.
Currently, VeriFone is moving off of lows, but still down 6.7 percent in afternoon trading.
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In a daily note issued today, former Lehman Bros. head technical analyst and Renaissance Macro principal Jeff DeGraaf said VeriFone was one of its "short candidates," suggesting technicians do the same on the stock. He didn't give reasoning on the suggestion, according to Dow Jones.
Currently, VeriFone is moving off of lows, but still down 6.7 percent in afternoon trading.
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VeriFone
Eric on Sep 26, 2012 12:38 PMMark as Spam | Reply to this comment
Surely it's sort of obvious to be short on VeriFone - increasing competition from the likes of Apple, ROAM (Ingenico) signing up with Groupon, Square doing so well etc..