The price action on this one is slipping a bit quicker than I would like to see so I am adjusting my price target on GFRE is $5.80 and here is why I think this one is in play. These guys had great earnings and a top notch auditor, not like CCME. They are being dragged down by the whole China scare. Its really a swing trade that might take a while to reverse. The bet right now is if it is a fraud like CCME or not. If its not, I am looking for 50% from here quick. My thought is it could be like CAST which got hit after earnings too then rebounded.
As with any trade, I’ll update my plan as the days go on but that’s what I am looking for right now.
No position in GFRE, CCME or CAST for me right now