Looks like Townsend bailed for a smaller co. with higher % growth prospects. This is reassuring news for longs. Sr. Executive gets bored and look to relive the glory days of taking a small fry big. Not to mention the possibility of mo' $$. The news suggests that he was seduced by another opportunity and no reflection on UNFI.
25-26 seems like an important for UNFI to hold. Once it breaks down there's no support until just under 24 - and it's from early '04. I've not traded this stock but it seems like it's on the cusp on way or the other, and the trend is down short term. It's still above it's 200 day on the 5 year chart (~ 22.50) but that's aways away.
I have been watching UNFI last few days. UNFI pps seems to be in a controlled price range by mm. Everyday it gaps up or down & closes down slightly in red. The short ratio as of 12-15 is "5". When UNFI was trading in $30's it started it's tailspin off that CC announcing retiring of CEO and UNFI would miss 3rd qtr earnings estimates due to fuel cost. Since then UNFI announced 4th qtr earnings would be in-line, fuel costs have come down, a new (former) CEO was hired along with new management hires. BNKA upgraded UNFI off the latter news commenting new CEO has a good relationship with it's largest customer WFMI (which split today & was added to S&P 500). Along with other positive comments. So it seems to me that the reasons for UNFI sell off from $30's have been answered. Yet UNFI trades under $27 today. I am long UNFI and until the viewpoint I have posted above changes negatively. I will stay long.
please show me your comments saying it was going to rise three points and then resume its slide.....people inside selling via family and friends...what the hell does that mean...are you trying to imply something illegal is going on that the rest of us are unaware of
BAC analyst doesn't seem to think Funk will funk it up. In fact analyst stated Funk being CEO will reinforce UNFI & WFMI's relationship. As far as that short posting 25 be back. UNFI was at $35 on 9-19. Concerns over CEO resigning, energy costs & tax loss selling were main reasons for the losing. UNFI has had 2 upgrades. UNFI said it would meet next qtr estimates. BAC analyst likes CEO Funk & new management team. Energy costs should not hurt sales growth according to BAC. Plus 18% - 19% 5 year growth projections in a hot industry. Obviously these views are just future projections. But based on these projectios which way does UNFI look more headed right now? Up or down?
just by the technicals of the charts.
I am short and looking to cash out then.
There are good reasons why this stock had come down from 35 since oct. We minions may or may not know about them, it is my experiance is that in a company such as this with a chart like this, that there is somthing bad going on and people inside are selling via family/friends and that is driving the price down now. They get out before the rest of us know why.
We had a small upswing the past 5 days which looks to be over and we are again going to go down. If it breaks under 25 then look for much lower.
This isn't like a full time job. When my father-in-law retired as the President of a Mid Western company he immediately joined the board of two different companies. A couple of times a year he'd have to leave his golf community retirement home and get on a plane with his wife and go to some nice city where they were wined and dined for a couple of days and then go home.
ST didn't lie to UNFI. After a while these CEO who are making $$$millions a year get a Caesar complex and start challenging boards and when they don't get their way threaten to leave. That's probably what happened here. In anycase, I certainly wouldn't recommend "Strong Sell" just because he joined another Co's board.