Why did they add extra week to this quarter? Is it a trick to fool investors?
I'm not certain of PBY's reasons for changing their accounting principle, but the 1st quarter will not be shortened by a week. Think of it as starting the fiscal year over again on a new date. I wouldn't be surprised to see this stock in the 18's or 19's in the short term. After a few weeks, the price should soften. It will take another good earnings report to get this stock on a steady climb.
Exactly...............They have not as some say "increased sales" They just raised the accounting sales figure. The week to week & day to day sales are exactly as they are. You can not fabricate a number. If you sell ten dollars of product or service it is always ten dollars. You can not turn it into twenty dollars by changing an accounting procedure. However the people who make these decisions are not fools and I am sure this decision was not made with the idea of fooling an investor or anyone else. All of this considered I really can't explain the sharp rise in the past few days but I expect a correction of about 75 cents coming soon.