Been waiting for over 6 months to buy back into this stock. Looks like I may get my chance, hopefully under 50
Good to see Einhorn stick to the same old story that took the stock down to the teens last time around and gave me the chance of a life time as a long. Let's see if we can repeat it. I don't care if the Pope makes generic K cups, GMCR is a money making machine and I am licking my chops right now as I see the pps drop...Come to daddy.
ghadji, I remember you posting on the way up..some good posts. I went long at about 23 and rode almost the entire way up to high 80's and sold. Stock is on its 200 day avg; extremely strong support after big move up and sell off like we have had. In my 18 yrs of investing, this is one of the strongest technical formations I've seen, which is why I came back into this today and came in heavy (for me). To top it off, Cramer just said to sell it. Now I paid a lot of attention to what Cramer's announcements did to the stock on the way up. Invariably (in my recollection), the stock immediately moved in a strong, high volume deliberate way in the opposite direction. So, in other words, I will be sleeping like a baby tonight.
You're right, GMCR is a cash machine; I think they'll do at least 4.40-$4.75 in EPS next year and probably a healthy bit more. I think it will be back to 80 soon, but more importantly believe that downside is minimal here. GL.
You may be right, but I'm looking at that gap at around 60 and I can't help but think that so does everyone else. There's a chance it drops to 60 even for an instant barring a positive news release, so even though I'm tempted to get back in now, I think I'll hold off from buying for a bit longer. Watching it closely.
Pope just announced the release of the New Vatican Italian roast Kcups. I would be careful not to jump in too soon. I think volatility will continue. According to reports, sales are down. I don't think they will even come close to estimates this time around.