I was watching a/h action yesterday after the close, and it was obvious something was "up"; I saw 50k go through near $30, right after the close, then other positive trades tick throughout the session! Why you ask? Why would someone rush to buy 50k shares in a stock that is very thinly traded a/h? Answer: b/c they new about this Jeffries report!
Yeah, I'm happier seeing some positive coverage here, and happy to be up, as a long, but I tell you, if anyone ever thinks "all is fair between buyers-and-sellers in this game called Wall-Street", I have a "perfectly fine bride I'd be willing to let-go for a bargain price along the Jersey shore"!
PS: Where/how does Jeffries come-up with this rosy growth scenario here? Good timing with Ugg-season upon us!
No question it is a bought and paid for market. Look at AMZN hitting highs for the day as the market pulls back, and ISRG in positive territory after investors becoming aware of articles about hysterectomy surgery being dangerous for some and often causing bladder injuries, written about by no less than top Ob-Gyn in the country a few years back. But I'm with you re DECK, hopefully the bounce continues. I feel for those who bought in much higher. I just bought at $36 and am already worried about getting out whole.
Now that "that" is settled, on to the game! Here's a nugget from the Jeffrie's report that I find telling:
"....The weather has turned colder in New York, a trader friend of mine said he walked by a Decker Outdoor [DECK 31.0701 1.3301 (+4.47%) ] store in upper Manhattan and there was a line to get in to get the firm's well-known UGG brand. What's odd is that the stock has been pummeled all year, going from roughly $75 in February to $29.70 today, largely on the belief that the UGG brand is over. Today Jeffries resumed coverage with a "buy," saying UGG "is far from dead," arguing that Google search trends interest in UGG remains roughly at the same levels as 2007-2009...." -Jeffrie's analyst
A little worried that it took "a lone analyst doing foot-work" to highlight and relate this news, while the CEO seems unable to relay the same! Feel vindicated in a sense, b/c all along, I knew the problem wasn't "Uggs still being desirable", b/c I KNOW they are, yet I could be fooled into believing that "they are only desirable at lower price points, and even so, there's so much work-down of inventory, what does favorable trending really mean, until it's worked-down and order-through is resumed"?