most of the rally was caused by shorts covering to book profits. You see, for them to close out their position, they have to buy, which creates demand.
it appears that all the weak hands have dumped (selling climax reached) since the shares are now strongly in the green after making a new 52 week low.
the lowest target price I see is $18...what analyst has a $15 target?
Will we hit a new 52 week low today? we are a mere 17 pennies away from doing so. In fact the shares are very close to their levels back in March of 2009. The lower it goes, the better because puts more pressure on Management to unlock shareholder value ( because if they don't do it, someone else will).
dirt cheap for sure...selling at less than 1 times sales...unheard of for a profitable company with no debt, a pile of cash and shareholder's equity in excess of its stock price.
the stock is way oversold..should at least see a dead cat bounce tomorrow ( shorts covering to book profits and bargain hunters not being able to resist) and a couple of analyst upgrades based on such a drastic one day drop in market cap. If these guys adopted a stock buyback plan the stock would take off., but it appears that management could care less about the share price.
who knows..we might get some more color in the CC, and maybe even a couple of decent analyst questions that reveal some positive developments. Hopefully, an analyst will have the courage to inquire about the possibility of a stock buyback program being implemented.
guidance not great,(kind of sandbagged) but the stock already took a big hit prior to the release, so I imagine that it was sort of a "sell the rumor" situation. Now that the rumor of a weak quarter did not materialize, it could well be a "buy the news" scenario.
what are you talking about? their revenue was higher, It just didn't meet lofty analyst forecasts
that was fiscal 2013...we are already in F 2014, and they have already guided same store sales to be up 1%