Bidz.com time to buy
Bidz.com is a stock I like mostly for the reason that it caters to people seeking luxury on a shoestring budget. Its business has been extremely profitable, making money by selling jewelry and watches at discounted prices through auctions all starting at $1 per item. The company is growing quickly and its earnings reports continue to beat analysts estimates.
As the economy shrinks consumers aren’t quick to completely cut out the luxury in their lives instead will try to find it cheaper. Bidz caters perfectly to this crowd and is posting amazing growth rates that have investors wanting more. All the while, Bidz trades at a super low PEG ratio of .44 making this stock one for the long run.
The stock traded as high as $22 per share last December and I’m beginning to wonder if that might be the price Bidz reaches this upcoming holiday season. Its placed well to profit on the holiday season and will likely draw an even bigger crowd to its online auction site. In the mean time though there are still plenty of factors that are currently holding the stock down. The stock has entered a triangle pattern that is fast becoming to the point of a breakout, either south to the sub-$9 levels or a breakout to its recent high of $14 per share back in May.
The stock still has plenty of short interest, since last November its been almost standard for this stock to carry 3 million shares short. Whoever took the big position short back in November has yet to release it, there were 912k shares short on Oct 31, 1,785,000 share sold short on Nov 15 and then 3.3 Million shares short by Nov 30. Up until the last data available on July 15 the stock had an incredible 3.9 million shares still short. That’s about an eighth of all shares outstanding, quite a bit of interest in shorting it.
If Bidz trades to the upside through the current downtrend it should run up easily to $12 per share then make way to $14. I’m a buyer on the breaktrhough, I think there will be plenty of buying to cover short positions with the next earnings release.
Dear Customer,
We would like to begin by making fun of you all and waisting your time and money on our products.. We do understand our customers would like to spend their money on good products, But for less price. So here it is, you get what you pay for.. Thank you for waisting your time and your value money on our products. We do guarranty that it is 100% FAKE, but please dont let this alarm you. Any question or concern feel free to call us at 1-888-247-BIDZ (2439) We appreciate your Buisness