You're spot on; the little guys either get frightened off or lose patience with the trading action and give up their shares. No reason for it to trade down at $23.10 and A/H it's trading at $24.32. The shorts have done a good job at keeping the share so low. They now enter a riskier play where earnings should drive some better trading action for longs and should also drive some analyst upgrades & institutional buying. Remember this stock is 96% owned by institutions according to the stats. It's time for the company to show Wall St. that the numbers are very good.
SKX was dragged down 3% at the open, the market was down closer to .5%. Other shoe stocks such as SHOO and DECK were down less than 1%, so what accounts for the such a drastic difference? Yes, the market was down, but no where near the drop for SKX. My bet is still on manipulation!