CSUN

CSUN's IPO just caught on the worst days of the market in weeks. It performed quite disappointly today. Here are the numbers on CSUN.

(1) The gaps are almost filled, the dark purple areas are the gaps. Today it filled the gaps to 13.70 and then to 13.50 very quickly. It has 0.30 to go to reach $13.36, $13.36 is the lower 3.50% level (or variance area on a normal distrubution). The mean is at $14.71 (or so-called value area). 93% of the volume are traded between $13.36 and $16. It should find buyers if the price drops below $13.36.







(2) If we compare CSUN to JASO - the same type of companies, we might get some hints from looking at JASO's performance in the first couple days after its IPO. JASO went from $16.40 to $19.5 on the 1st day of the IPO, eventually, it went to $16 again on the 5th day after the IPO, it bounced on the 6th day and went to $19s on the 7th day. Not sure if CSUN could pull a JASO, it depends on the market environment, if the whole market tanks, no stocks are exceptions.