Good morning, Slopers. The bright spot for me today is my short position is PAA, which is a stock down nearly 20%. What I found amusing is the analysts stumbling all over themselves to update their completely inaccurate predictions with lower-but-more-plausible predictions. Here’s a gem from Baird:
So they were dead wrong before (it never got within the same ZIP code as $36), and now their target is significantly higher than the price to which the stock has collapsed.
Of course, they weren’t alone in their idiocy:
Nice work if you can get it, huh?