Not only that but in the midwest and east where DKS is primarily located, it has been an unusual cool to cold spring. Causing a 4 week delay. Consumer spending may have slowed a bit but for a sporting goods store this is the time of year when more sporting activities occur, including golf. Hunting season may be slowing and gun sales in general should slow as the mania is over and those wanting a firearm have purchased but supplies and accessories for those firearms could lead to higher sales. The stock is way oversold based on a valuation standpoint. Agreed, with the lower guidance and valuation DKS should be a $48-$50 stock.
Totally agree-just have to wait until all of the momentum traders settle their profits and let this thing settle down and stat moving back upwards. Almost all Investment Banks have DKS pegged around $49-$50. Volume likely to about 1/2 of what it was yesterday, which is still high. These folks don't like to hang around long so positions will be settled and we start our ascent.