So this was reported in Barron's this week:
"For Select Comfort, near-term trends and execution remain very strong, in our view, but extremely difficult second-half comparisons will be tough to overcome. Mattresses are the most discretionary category for our covered retailers and these stocks are therefore the earliest of the early cycle."
So why all of the sudden the downgrade? What's the information that they didn't get during the Q1 earnings call and couldn't model out at that point regarding the second-half comparisons? Even they admit that the near-term trends and execution remain very strong. I don't get it. I think it's sloppy research. Just my two cents. I hope that management is buying up a lot at these levels.
I bought for a trade today and it has glided lower even with this huge up day in the DJI and NASDAQ.
I thought maybe I could get a quick 50 cents or more but I guess some of the noise from the proxy fight has some running scared. I saw this drop to $18 and recover to $35 so this stock has seen volatility in the past. Hum.
No but doing this on higher than normal volumes too. Not sure what that says. Maybe large holder unwinding a position. I think wait until it stops and buy.
Notice there was not bump by the end of the day on the nice quarter. Seem like they started sell then. Wen intraday to $35.75 and feel ever since. Other stocks have also tanked but here was not even a reward for a good quarter. Down when good, down when bad. This was punished severely down to almost $18 then almost doubled so this stock has some history of being oversold then overbought. I have it on my watch list.
Uh make that $31. Wow this one has been tanking all week every day!