what kind of loser is up at 1 am posting, you must have sleep problems are you a fatty like keymerrick, or a blue collar worker that doesn't have to be up at a normal hour lol?
I like your optimism, but let's take out the resistance at the last conference call first. What was that, around $1.24? If we can stay up today on heavy volume, could start attracting attention.
Yeah, it's good and bad. The momentum since it bottomed out at .91 on May 12th is carrying over...but I would love to have added closer to $1. Added 40,000 so far today myself. Lots of positive energy around this one...sales increasing, synergies finally realized this quarter, new products....there's reason to get excited about this stock for the first time in a while.
What are the chances the share price continuing a steady climb to $2.00 before next earning report?
Not me ..... but don't like it. But that forced me to add 50K today .... mm is picking up volume at higher price than anticipated.
Sentiment: Strong Buy
Yeah, that's what I'm concerned about. Could be waiting for $1.05 to start adding shares, and it takes off before then. After that conference call, not sure we'll see that low....but it is JOEZ, so you never know. I did start adding more today.
I will be really interested to see the new "athleisure" line. Can't wait to see that hit the website and retailers. Joe's is usually spot on with these trends, they hit home runs with leggings, 55 Colors, and Vintage Reserve collections. They've taken us to $2 with these trends before.
Thanks for the information. The way this stock price behaves, traders are waiting for any spark that could start a fire. Then it shoots up like a rocket going into space.
I think this is a key point for Joez...right at that $1.10-$1.12 mark. Tough call to see if a better price will be there later, or if this will hold here and move up. The chart actually looks pretty good right now.
I went back through the conference call this weekend to try to judge if this was a good place to add, and was pretty encouraged by a couple of things:
1. Same store sales up mid single digits halfway through current quarter. This is still mostly a wholesale company, but SSS are going to have to be positive for the stock to take off.
2. This comment:
"And what we found is that going into the third quarter and this is what makes us optimistic is that as all the inventories were coming back in line we saw that our sales were outperforming our stock at retail. And then at some point, you become under inventory.....it’s opening up dollars to move into the third quarter."
Sounds like the inventory clog from the slow winter/spring season has cleared up and wholesale sales should be nice for Q3.
3.Talk about the "athleisure" category Joe's will soon be entering. All you have to do is look at what leggings did for this company in late 2009 early 2010 to get excited about this. It's fashion trends like this that lead to double digit same store sales increases. Crossman said that they have an "an array of very fashionable designs that have strong bookings by our retailers already". It's great to see that Joe's isn't living and dying by jeans alone. Looking forward to seeing what they've come up with.
4. I also thought that the profit this quarter was a little "smoke and mirrors", from the gain from the adjustment of the fair market value of the convertible note. Truth is, they still would've broken even without this adjustment. That's better than I thought that they would do, considering Q2 was still without any of the projected CGS savings.
Who knows, maybe wait and the price will be back under a buck, but this could get interesting.