This company is being touted as a wonderful growth stock.....BECAUSE THEY WILL PIST 13 to 16 CENTS THIS QUARTER??????
Are you nuts? Remember when this stock was projected to grow 200%. When every one in the world would only buy on line from Blue Nile. When you were actually suopposed to believe that no one could ever compete with Blue Nile?
And now we are looking at a possible BANNER QUARTER if they can post 16 cents ....3 cents above the 13 cent estimate!!! For what.....A PE of 80??? And guess what....I read that Costco sells more jewerly on line then Blue Nile. I have not confirmed the numbers....But I am not surprised. Blue Nile has had to cut back to and when you have nothing to cut (no bricks or mortor)....You cut customer service. Which all ready was hurting.
For a company that said they posted great numbers in a recession because of declining costs for diamonds.....What do you think will happen in a period of rising prices?
OHHHHHH.......Maybe this growth stock will not make SIXTEEN CENTS THIS QUARTER.....
Yesterday. 5/19, the NASDAQ was down as much as 48.....but NILE was up most of the day and up pretty good in Mid afternoon. Classic manipulation to go against the grain in a market that is firmly down and very over priced. We have been lied to again inbeleiving that we are in some recovery. Just because 20% of the economy is booming and spending again, does not make for a healtly condition. large corporations are still laying off well paid workers and forclosures are continue to grow. But all is well. And people are still getting married? I think not. The days of wasting ridicilous sums on a piece of diamond have finally been realized as a wast of good money. Buy a house, save for the future. People are not looking to buy friviouls things such as jewerly. Despite the lies that Diane tells you while she if running to her broker friends to cash out while she can. They all are cashing out and soon enough, the house of card will fall. No I do not have a date. But if the stock market retreats NILE will be squeezed.
Blame Greece? I don't gt it....Spain, Brazil....many countries are in trouble. As the banks claim they are making billions....Think about this.....How can this all be true at the same time....Everything is bad, unemployment up, forclosures growing, Euro crashing....but stock market good???
We can not support this economy with only 20% of the population thriving. The middle class is disapearing as they are forced to give up good paying jobs for low paying service sector jobs. many have taken pay and benefit cuts so that Wall Street can continue to post profits. Wall Street is no longer even close to Main Street. Most of Main Street has cashed out in order to stay afloat. Only greed and manipulation remains,,,,,Lets see how long that will last. Today will be ugly.....300 points I beleive.....mark it....May 20th = -300