Me being a person that buys sporting apparel quite often, would walk up to this shoe and go, I wonder if Nike or Reebok has one. Then I would walk over to Nike and Reebok and A)Buy theirs if they did, 2)Not buy Sketchers if they didn't thinking it wasn't something athletic males buy. I'm dead serious. If I think like that, I know others do as well. I would also look them up online and find reviews. Old athletes and hot females do not entice men to purchase these. Just my opinion.
Oh, and jkwelli is a bum. Sure they'll mention all the times they were right but never when they were wrong. As if they were only ever right on their picks. I wish everyone else luck but you. SKX has been dead money, CROX, NKE, DECK have not. Loser. You better hope it holds here because somewhere between 15-17 is the next stop. Oh, and if you are calculating what SKX is worth without shapeups, wow, that's just silly. Way to hope for a max of a $25 price target at best.
And if nascar wants to buy again, he can. I wouldn't touch this when it was at 34. I touched it at 23 and 19, and I wouldn't touch it again until they report earnings next. gluck to you all, especially portaland, but not jksmelli.
I understand, but we are talking shoes here. Competition is here and increasing, and if toners are here to stay, the competition will get tougher. It would take NKE 5 minutes to figure this concept out, if they wanted to. I'm not ripping SKX here at all, but when someone outright dismisses competition in a shoe market, I have to laugh. Thats just blind chearleading.
Good luck to you.
It's about preceived value. The public is easily swayed by marketing. Skechers does a very good job of marketing. Reebok is the next largest competitor in market share for toners. From the reviews that I have read, the Reebok's shoe bottom is different and the public prefers Skechers Shape-ups.
Competition cannot and does not have the research team to identify what historic data SKX has accumulated by now. Yes they will dabble into toning but will not have the finess and styling and variety of SKX shoes
I tend to agree with you that this is overdone. I've said before basically that I think this stock has been overly punished for this, and that the analysts are totally inept and have missed the boat in both directions to the point its absolutely ridiculous that they even say anything anymore. With all that said, the stock gets no love at all, and I have no interest in fighting it. If something is terribly wrong and the shorts are right, look out below. I hope thats not the case.
so you plan on buying SKX back?
We probably won't see you on the SKX board for awhile huh?
Fast money ADAMI said to buy RIMM at $104, it went to $37.
Fast money said to buy puts this past summer on your positions. Everyone was afraid.
Volatility was high, puts were expensive.
I DID THE EXACT OPPOSITE OF WHAT THEY SAID. I sold Dec $5 cno PUTs for $1.15 premium this summer. They expired worthless for the buyer. I claimed $1.15 per share. I sold puts then on other positions that are way out of the money for the buyer and expire in Jan.
When GE was $7 in March or so 2009 all the Fast Money were running away from GE the parent network of CNBC. They said it was a sell and probably even recommended buying puts.
Of course Ge went to $17.
Great calls. all of them.
Fast money is not infallible.
AYou said you don't own SKX anymore.
Good luck see you sometime in the future.
So what is it, the toner market is dropping 40% but there are many competitors getting in? The market is illogical trying to create the panic to allow shorts to cover. Companies are getting out of toners completely? The category is brand new and very hot. the largest shoe retailers need toners for their margins.