CyberArk (CYBR) — too late to buy? (November 14, 2014)
CyberArk ( NASDAQ:CYBR ), just one more time. CyberArk ( NASDAQ:CYBR ), this was a stock that worked, they announced earnings that beat the Street, made everybody happy except the shorts and I don’t think there’s that high of short interest. The stock gapped up and traded up really, really nicely relative to the prior close, if you call 26-27 percent up. Then on Friday the stock closed even higher again.
Note what happened though, because this stock is a little “Alibabaish”. The stock trades really, really strong and then the following day it actually gaps down a bit, not a lot but a little bit. It gaps down a bit, trades lower and then ultimately moves past this prior days close and moves higher again. So if this holds true to form, and I don’t know if it will, but if it holds true to form, look and see how these higher momentum stocks trade, it’s like they do this all the time; this can gap down below this level, it will scare the snot out of you, trade lower, and lower, and lower and you think, “Oh my gosh, this is it, it’s going to $32.00”.
The stock comes down to here, reverses and closes higher again. We’ve seen this how many times? I’m not comparing these two stocks but we’ve seen this with Alibaba (NYSE:BABA ), look at this one here, the stock closes at 101.80, opens the next day down at 100.43, so it was down $1.40, not a big deal but it was a deal. So the stock opened down ultimately moves back up, you never get it at that price.
We can see the same thing with CyberArk ( NASDAQ:CYBR ), I think that those earnings were good enough to where there’s a few people that want to be owning this stock, and there’s not so many people that want to be selling this stock, not at this price. So I still don’t think that it’s too late for you to buy this. I still think you can get in on this, even though it’s up since this earnings report last week, over 32 percent, you can still get in on this stock. It’s an IPO stock now, it’s an IPO pattern that I discuss, and so this is a stock that’s working.
Free Chart