Why the steep drop of 10%????
My prior posting anticipated price action.Saw no corporate news to account for the slide.Market selloff as LNN has high beta.Worse fear is if LNN goes <50 and near its 52-week low despite decent to better earnings. However, earnings not moving this small cap stock.If economy contracts, farmers or LNN customers might delay purchases causing earning to go lower. Hope that will not be the case.Will like to see LNN back to 62-65 range, if general market selloff ever ends. We got overbought conditions, now oversold the last 3-4 weeks.
Could it have something to do with the John Deere earnings being pretty good? Or the recent X date, (but the dividend is no where near what the drop was.) Hmm? A buying opportunity? Cody Willard of Revolution Investing thinks so.http://www.marketwatch.com/story/drink-the-water-2012-05-15