Wednesday, April 21, 2010

Sandisk beats estimates

In late October of 2008, Sandisk's Chairman Eli Harari was put on Cramer's Wall of Shame, when the stoock was a hatsize. A few weeks later it was trading with a six handle.

He turned down a buyout price of $26 a share.

Now the stock is almost $40.

Remember Sandisk's last earnings? When this number was sold on the conference call, only to bounce big afterwards? You had the story here.

Today the stock is trading up to 40 after it's conference call, as Eli, for once, is waxing bullishly.

I think for traders, at 40, Sandisk is a sell on the news, just as the last earning was a buy on the dip afterwards, this is is a sell on the ramp.

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