The reason for this development ist quite clear due to the fact that Herman Miller launched a new chair! Many believes that MIRRA will become the new high-performance leader in the mid-price segment, which represents more than 50 percent of all work chairs sold.
"Mirra is an innovative, high-performing, environmentally advanced work chair that sets a new reference point for ergonomic comfort, performance, aesthetics, sustainability and price in the office seating market".......STRONG BUY
Hope your "tight mental stop" got you out. If not it will eventually go down but not before it sees $20+. Held 200 DMA which has turned up for first time in a long, long time. $20 may be a conservative target. All we need is more volume and a piece of bullish news and it will rip. Still a buy cause it's going on high.
"There is no painless way to pay for debt. All of us have borrowed it and we have to pay it back, one way or another. "
I see a similar big picture. It seems our govt. will choose inflation as the least painful way out, as you suggest, since that is where the policies being pushed, both monetary (printing money) and fiscal (deficit spending), will eventually lead.
I've re-entered a short posn. at 18.05. I'll use a tight mental stop, but i suspect that we're rounding the top.
hmidealer, You are to be commended for doing a good job in your enterprise. It looks like you are doing your best to take lemons and make lemonade.
Weak demand will continue to put pressure on pricing. It's not just in the office furniture space but the entire economy. Low interest rates are not working and I'm afraid the Fed has no other choice but to monitetize (crank up those presses and print cash). That will speed the dollar's demise and we will begin to hear that sucking sound of foreign investors leaving. They own 1/3 of our debt! There is no painless way to pay for debt. All of us have borrowed it and we have to pay it back, one way or another. Kings, for centuries, have engaged in the practice of coin shaving (a bit of gold is shaved from each coin). Our government is no different.
Steelcases, Haworth's and Knoll's butt. Now on to another poster, I know the overall economy is stagnant, however everyday our dealership gets out there and we sell, sell sell. We are involved with our micro ecoonomy and we are over goal both internally and with Herman Miller. This chair will just help us that much more. If every HMI dealer would get out and make their goal HMI will do quite well. Now as to the stock price that is another world. My world is selling cubes and chairs.