well, here we go again, PBY misses badly again on results and the stock is tanking in after hours. How do they generate lower sales despite more locations? I don't get it. Are you going to try and buy on the dip tomorrow? I think we could see the mid $10's before the carnage abates. That would be a place to load up the truck big time.
Haven't posted much on PBY for a long time but until O'Dell is gone nothing much will ever change. They need complete new BOD's as well. You can go back and read my posts over the years and you could almost cut and paste 90% of them for this latest report. Excuse after excuse. Spoke concept is cannibalizing existing stores, etc. etc. O'Dell's key management team is comprised of rejects from other companies. Newest HR VP doesn't understand business, etc. etc. Where do you start.......
PBY has been a buyout rumor for the 20+ years I've traded and posted about it. I wouldn't touch until below $11 or wait till dust settles. Could hold low 11's........but the real test will be if Gabelli holds his stake or finally gives up again. If Gabelli and other large holders say enough is enough we could see single digits. Great trading stock because of incompetent management and forever optimism that someone will buy company for real estate assets.......DaninFW
I see 2 levels of support. 11.70ish and 11ish. If it drops below that, I would expect single digits. I will be buying back if it hits 11. And single digits if WS were to be so kind and cannot hold 11, GLTA.