Are we a victim of the Housing market? It is clear this recent weakness is not driven by the shorters as the level of shorting has not really changed since the weakness started. The company is technically sound with no real obvious reason for weakness and the brokers are maintaing their targets. So is there another reason?
My theory is based on young techie guys who either work, or have worked in the past for NEA or work in businesses who have been aware of the potential of the company for some time and are in the cohort likely to be wanting to get married, or start a family etc and are jumping into the housing market before house prices rise anymore? Housing FOMO might be a driver.
Just a theory. Does it have legs?
NEA Price at posting:
$1.62 Sentiment: Buy Disclosure: Held
