Done! Never is usually a long time, but apparently, in your case it is less than 8 days! Nice call, Rugburn! I applaud your conviction, but your personal tagline should be "Seldom right, but never in doubt!"
The reality is that this stock should be near $80 as all the fundamentals are in line and the outlook certainly warrants that level. I would not be surprised to see it hit $80 by next week but it may not. I was certainly surprised to see it in the low $60's based on the numbers. Market emotion is what drove it down in the first place.
The reality is this is a fad stock, similar to CROX, UA, WTSL just to name a few. I stand by my original post. I see this thing below $20 in 2 years. $40's by next 2 earnings reports - possibly by Sept. release. The fund managers can't just keep looking stupid season after season on an overpriced company that is doomed. Sure, they can add stores/change styles/target different demographic, but they're counting on same store GROWTH. That is NOT going to happen with Lululemon.
I admire your conviction. But as they say.... never say never! Time will be the proof. I was wondering if this is the top myself but definitely lack your conviction. I have seen the market go againist reason way too many times to be so bold. Happy trading :)
LULU stock is in a bubble - the fundamentals are good but their products are not as good as they use to be. And it's going to hurt the revenue and the fundamentals soon - their sales are down and it's going to show in Q2 results...I am out as it's going back to 60 again.