Enjoy it Froggy. I've got what I need at this point. Plan on holding for a long time.
Market doesn't move as fast as people think so those getting impatient are making rookie mistakes.
This stock ulled the same tricks after it went from the bottom of 28 to 42 a share(also a 50% move). It took a couple months break, setting bottoms at 34, then 38 then 40, then after the last earnings it took off and went up basically 50% in about a month. Now is just another short term pullback on those not as bullish as ourselves.
But it is really all about cash. People only spend their money on so many things, and most people only have so much money to spend, so the thing to figure out is what sells.
UGGS has set records for basically 9 years straight and growing. So how this stock is worth just 1.82B less 60M cash and 10M debt is BEYOND me but this is how investors make money.
Shorts have to cover their 9.89M shares which they have been doing for 6+ months now. Management has 79M left to buy back stock from the 300M they started with less than 20 months ago. Management forecating conservative 7% growth.
Company has 60M cash on the books and just 10M in debt.
What is not to like. This company sells 10M+ of its products nearly every year. How many companies can say that with a 9% profit margin?