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Skechers USA Inc. Message Board

  • axe_234 axe_234 Aug 18, 1999 5:42 PM Flag

    SKX's trading pattern Wednesday, 8/18

    based on 46,400 shares volume, down from
    yesterday's 50,900 and down from the past several days also.
    Of today's volume,

    9,000 shares traded on the
    bid

    14,000 shares traded in the middle

    23,000 shares
    traded on the offer and the average price SKX shares
    traded at today was $ 6.16. There were 75 trades that
    averaged 619 shares per trade, again indicating mostly
    smaller players operating today.

    SKX closed at 6
    1/4, up 3/16 on a last sale basis, bid at 6 1/8 for
    2600 shares and offered at 6 5/16 for 2900 shares. In
    the closing moments an offer at 6 1/4 traded away.
    The day's trading range was low at 6 1/16 and high at
    6 3/8 (a singly OTC trade of 800
    shares.)

    Again, I'll restate while SKX appears to be languishing
    on very low volume, there is a noticeable absence of
    dedicated sellers. I truly believe the next leg we see will
    be the start of an up leg. SKX doesn't belong at
    this reduced levels.

    Just my
    take.

    axe_234

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    • not actually one of my favorites but he "really believes" the "next leg will be up from here" (Editors note -- "here" is $6 1/4@)

      FactFinder_007 "where dafacts"

    • that regarding litigation, "management does not
      believe that the disposition of these matters will have a
      material adverse effect on the Company's financial
      position or results of operations."

      There are
      always a lot of lawsuits out there, and they always say
      it.

      And on 99.99% of all lawsuits, they're
      right.

      But I'm not saying there is zero chance of the suit
      doing damage -- who knows? I did give it some thought
      before I made my first buy.

      Time will tell.
      Thanks for pointing that out,
      Mulberry.

      ben_around2

    • Every SEC filing ever made by a company involved
      in a lawsuit states the same "manaagement does not
      believe that the disposition of these matters will have a
      material adverse effect on the Company's financial
      position or results of operations." So what.

      I own
      this stock long and am confident the price will go up.
      However, this suit is not frivilous. Docs has a legitimate
      case. I don't think they'll get much, but the case is
      legit nonetheless. Counter suit by SKX regarding Doc's
      advertising of origin is a mere nuisance/retaliatory suit -
      no merit.

      What's with SKX advertising in
      Outside - what a waste of money. As if some legit outdoor
      person would wear Skechers. They should stick to MTV,
      Comedy Central, etc.

    • I agree and don't normally get too hung up on the
      lawsuits, however, SKX appears by most measures
      significantly undervalued. Before I just chalk it up to lack of
      attention due to newness or some other benign cause, I just
      what to explore any potentially valid causes for the
      discounted value. By the way does anybody know if Doc
      Martens was the original or the coutner suit to SKX? One
      thing I will say is that it appears pretty obvious that
      the early SKX designs were heavily "inspired" by Doc
      Martens, however, I don't know if that is enough to cause
      a problem. By the way, I'm long a 1000 @ 6.5 since
      mid-july and would like to increase my holdings but first
      I am just trying to ascertain if there is somthing
      I just haven't uncovered about them yet. Your
      comments are appreciated.

    • I tend to agree with you both also.
      Look at
      the suit against GM a few weeks ago.
      $5 billion
      (about 1/8 of their market cap), and although the stock
      hasn't done a whole lot, it did not drop too
      significantly.
      In addition, it seems we have reached a bottom and
      today's upward swing looks positive.

      Treeman

    • Thanks for your input on the lawsuit, very
      interesting. My take on lawsuits is that i just do not worry
      about them in the investment process anymore.

      In
      the hundred of times that the companies that i own
      shares in have been sued, i am hard pressed to think of
      one that, once settled had any real impact on
      earnings. I am sure that there are examples of lawsuits
      that had a significant negative impact on a company.
      But i think everyone would admit that in today's
      lawsuit happy environment, most suits are mismissed
      without impact to either side.

      However, what Ben
      around2 pointed out is still good to know and helps to
      put my mind at ease.

      EG

    • Sorry, clicked the wrong button.

      In the
      10Q, which was dated and filed after the lawsuits and
      reviewed by their attorneys, Skechers
      said,

      "LITIGATION
      The Company is involved in litigation arising from
      the ordinary course of business. Management does not
      believe that the disposition of these matters will have a
      material adverse effect on the Company's financial
      position or results of operations."

      Litigation can
      be unpredictable, but I think the chances of
      significant damage is very small.

      ben_around2

    • My former company got into the exact same type of
      suit/countersuit with a distributor who jumped ship and started a
      knock-off company. After two years, they ultimately made an
      undisclosed agreement to cease-and-desist certain practices,
      not step on each other's toes, refrain from
      name-calling, etc.

      IMO, suit/countersuit often ends up
      in a draw, or a settlement of immaterial
      amount.

      I think it is very telling that in the 6/30/99 10Q
      filed with the SEC, which I promise you was reviewed by
      Skecher's attorneys, Skechers said

    • of words but the press releases I've seen are within the news headlines for SKX...

      Hope that helps...

    • Could you give me a link to the articles
      you mentioned?

      thanks.

    • View More Messages
 
SKX
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