At the 52 week high, the stock was up 1300% from the 25.5c lows. It's not rocket science that this was overvalued. Bulls simply got greedy and are now trying to find others to blame.
EVEN RIGHT NOW, it's up 850% from the 25.5c lows so there is still plenty to go. I think we will be visiting the $1s very soon, especially if Half Year results on Tues are disappointing. Last year we saw a -20% drop on the day.
Don't blame the bears when this goes into the $1s. HC bears are just providing commentary, they are not responsible for the sell down.
I love Zip and have been both an investor and trader. There is a time to be bullish and a time to be bearish. I'm now only a trader on Zip so my mind is free of any bias and can sleep well at night.
I truly believe Zip is going into the $1s, possibly down to the recent CR rise price of $1.56
ZIP Price at posting:
$2.43 Sentiment: None Disclosure: Not Held
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