Q3 Beat And Raised Guidance Not Good Enough For Alliance Data Systems

Alliance Data Systems Corporation ADS shares are trading lower by $5.00 at $209.78 in Thursday's session. The Street isn't reacting kindly to its Q3 beat of $0.30 with a slight beat for revenues and raised guidance.

The issue did manage a higher open, but peaked on its opening print ($215.74), which coincided nicely with Wednesday's high of $215.61.

It immediately swooned nearly $10 before finding support in a familiar area in the $206 handle, as $206.06 stands as the current low. That low coincides with its low from October 14 ($206.50), October 17 ($206.22) and October 18 ($206.82).

It should be noted the issue has been a target on well-known short seller Andrew Left of Citron Research, who published a short report on the issue back on August 19. On that day it bottomed at $193.67, but has come nowhere near that low since then.