I wasn't reluctant to buy a few shares of skullcandy and I knew it could go either which way. It hit a low of 540 and this is where I'm starring to consider selling. They're being rather secretive about how they're going about turning everything around and that doesn't help either. Opinions on how this will all pan out? Truthfully I feel this will slowly but steadily go down or up depending on how they do this.
Look at it this way. Right before last earnings, the stock was trading a little over six. With a ho-hum, no surprize, wait 9 month for improvement forecast, I would have expected a 15% sell-off the morning after earnings. But if you remember, the stock surged up as high as 6.60. Why? I have no idea. My point is this, if it had not shot up .50 that day but instead done what it should have done based on the earnings and conference call, we would be right where we are today. It just feels worse because of that silly day after earnings spike. I think selling right now is a bad play. I'm planning on holding for the long run. even added 2K shares between yesterday and today. Good luck.
I think we all share similar concerns. Big money was able to recognize dimished shelf space and stuffed channels well before earinings releases and sold the stock short. One would assume they also might be ahead of the curve should Skul start taking back market share and thus begin buying the stock...and that's clearly not happening. So i would assume status quo for now. Skul needs to regain popularity with its consumers.