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B&G Foods Inc. Message Board

  • oisgehalten oisgehalten Mar 1, 2012 10:08 AM Flag

    Why the Slide Today (Mar. 1)?

    Does anyone know why BGS slid below $23 this morning? I've not found the answer in the headlines.

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    • I too am disatisfied with the erratic way the stock has traded since the earnings report (which WAS good). Looking back from today, however, it seems to have made a double bottom on Mar 6 (compared to Feb 16), and since then the trend is upward (although slightly underperforming). I think, on the positive side, the market may be rejecting the downgrades on 3/3, 3/6, and 3/7 as possible short interests trying to hit the stock when it is trending down (for a kill shot). That's the way I see it anyway.

      I am in this stock for the long run, however, and I'm trying to keep it in that perspective.

    • Why does it matter ?

      A quick look at the 90 day Yahoo Finance chart shows that BGS price is easily within its trading range since the first part of December....

      At 9:45 AM a relatively large block of trading volume occurred. This is probably the reason for the morning price movement. Since 9:45 AM,
      BGS price has moved back closer to the close from yesterday. BGS daily trading volume is not that large so if one or a few traders need to get out
      at the same time, the stock price can move quickly.

      Seems odd that you are asking about quick price moves within a trading seemed overly worried about normal BGS price action.
      Are you too levered to this stock ? Maybe you need to be in a lower beta stock, because getting concerned about this morning action is a
      sign to me that you don't have a handle on your investment.

42.98+0.30(+0.70%)May 5 4:02 PMEDT