Back on August 2nd, Zipcar (ZIP) reported disappointing Q2 results and guided down for 2012 sending the stock down over 30% that day. Looking at the chart, the stock has absolutely collapsed since going public at $30 in April of 2011. Is Zipcar really this bad a company?
According to the company, it is the world's leading car-sharing network, with more than 730,000 members and 11,000 vehicles located in major metropolitan areas and college campuses throughout the United States, Canada, the United Kingdom, Spain, and Austria.
The company has had an absolutely miserable time in the public markets. Though seen as an innovative market leader, it has yet to have a positive run in the stock market. In fact, the stock has been on a steady down slope throughout the whole 16 months as a public company. In fact, the 50ema has rarely been breached while the 200ema has never been approached. Both are signs technicians use to identify a very bearish stock.
Read the full article at Seeking Alpha.
Disclosure: No position mentioned. Please review the disclaimer page for more details.