Great job on your downgrade on the low the other day!
"hey, let's downgrade COLM at 46.50, let the stock drop to 45, all our clients that own the stock and stupid mutual funds can sell us their shares at $45, and we can cover all the shares we are short!"
The above was an actual conversation the analyst probably had at the Lazard offices.
Now that they have covered their short and gone long perhaps, the stock can get back above $50.
Then they can upgrade the stock saying something wise like "near-term visibility looks strong," or "the accelerating growth in Europe should enhance profit growth in 2006." They can sell out of their position at $55 after the upgrade.
And the Wall Street beat goes on and on and on and on and on.