DECK has a market cap of $2.7 billion so their cash on hand makes up less than 10% of their value. I originally bought this stock because it was trading at about 10 times earnings and cash made up about 25% of its net worth.
The shorts would love to see management blow all their cash reserves overpaying for their stock rather than banking it for a raining day. Why you want them to pay 20 times earnings for their stock is a mystery to me?
Maybe but this stock is still stinking it up again. I really thought we might go to $90 soon.
I sold 500 at $83.65 today and bought back 600 at $80.45 looking to sell at $82.45. Wow I can't complain about the $3.20 discount. DECK as a company looks great but the stock is suffering. It seems to swing down easy in a poor market but often trades lower later in the day even if the market rallies.