This morning Skullcandy was upgraded by Raymond James to Market Preform from underperform. Based on Skullcandys new management, 2014 profitability, and valuation.
Raymond James has been one of the major analyst's of Skullcandy, they under-wrote their IPO and participate in all the earnings calls. The fact that Raymond James upgraded Skullcandy is a bigger deal than one might think.
Skullcandy has been put in the penalty box by alot of the large investment banks, this might be a sign that the Investment banks are ready to start investing in Skullcandy again. Right now their is little if 0 ownership from the large Investment banks of Skullcandy. As many know, if the large institutions start buying again this could mean a huge inflow of buy activity.
On a side note, positive employment numbers were released today. If people have jobs they can buy premium headphones like Skullcandy's. Employment among teenagers is an area to focus because they represent a large portion of SKUL revenue