Ambarella Shares Soar on Vieira's Upgrade to Strong Buy. Know more why Ambarella shares are soaring since Vieira's upgrade to Strong Buy at $37 on Live markets premium urging investors to buy 5 million shares after betting on the crash from $126
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Hundreds of investors around the world closed their short positions on Ambarella (AMBA), reversing to the long side ahead of the rally. Recently, they did the same on Acadia Pharmaceuticals (ACAD) before shares jumped more than 130% on the news!
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Ambarella, Inc. AMBA has been one of the best stock market performers, a big mover every single session, as the company saw its shares rise over 9% on the day. Shares gained after the company released better-than-expected first-quarter fiscal 2017 results. The news led to far more shares changing hands than in a normal session, resulting in solid volume.
Why investors loaded up on Ambarella ahead of the best rally in years?
The Americans are short Ambarella, Zacks Consensus Estimate moved lower, suggesting there may be trouble down the road. Ambarella has a Zacks Rank #4 (Sell) rating while its Earnings ESP is positive.
Why is Zacks an American scam?
They are know to upgrade stocks at the top downgrading at the very bottom. Know more about Zacks upgrading Abercrombie & Fitch (ANF) ahead of the crash!
Ambarella earnings report
The Santa Clara, CA-based camera chip manufacturer reported earnings of 34 cents per share, topping earnings estimates of 28 cents per share.
UPDATE: Instructions for Ambarella investors available until year's end are available in your server account at stock market LIVE.TV