I think people underestimate the true potential of a growth stock. The endless possibilities and limitless valuations. Growth stocks are an exception to normal market standards. Unfazed by macro economic conditions and gyrations, growth stocks continue to power to new highs. Like I said in previous posts, its only when everyone is on the Bull Bandwagon, that the stock pulls back.
Today’s earnings from LinkedIN (LNKD) shows the stock is far from any sort of pullback and is still in the midst of a tremendous growth cycle. It also looks like shorts are starting to realize this, reducing their short postions from 7 million shares in January to 4.3 million in April.
Of course these are all valid arguments, but not when a company is growing revenues over 100% YOY. LinkedIn (LNKD) earnings today reinforced our belief that the shares are headed to $150+ before summers end.
You heard it here first when the stock was trading at $100, and now you will hear it gain when the stock is at $120.
As for you LinkedIN(LNKD) bears, please let us know when you go long….
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