ANF projecting 4 cent loss for first quarter. And stock remains overvalued
Who is buying this stock besides the funds and institutions with large positions? ANF has projected a loss for the first quarter. We ignore that they have to close stores, we ignore inventory they can not sell, we ignore bad management, and now we ignore the fact that this company is preforming badly but it sold to us as a great company. Retail, especially overpriced retail and trendy expensive T-shirt retailers, are not doing well ANF posting a loss is not a reason to buy the stock. The only reason to buy ANF is because the funds and institutions and their friends in the media tell you to.
I agree that it's overbalued, but there are green shoots. Their marquee stores are still printing money. Boston market is always mobbed. But I think Europe and especially England is going to get trounced. The GBP is at a 52 week low. They have a pile of Hollosters there. England has a gas shortage, a weak currency and is going into a deprassion. That alone could send ANF to $20