CROCS (CROX) Takes Investors On a Wild Ride
Tweet
Share
E-mailGet Alerts CROX Hot Sheet
Join SI Premium – FREE
Shares of CROCS Inc. (Nasdaq: CROX) are under heavy pressure today following third quarter results after the close. While the company reported strong growth, investors were disappointed in the top-line revenue number and the guidance.
Shares of CROCS were priced for perfection ---- and the numbers just were not perfect.
Shareholders, that have seen shares of the footwear maker defy gravity this year, may be kicking themselves for not selling before the earnings report.
Shares of CROCS were up 250% on the year before the earnings sell-off. The stock is still up 129% on the year ---- still a great return by any measure. But the old Wall Street saying ... "pigs get slaughtered" rings true for those that did not lock in gains.
Mazama Capital, while it has been trimming its position, held 5.7% of CROX at the quarter ended June 30, 2007. Based on today\'s drop, the firm lost about $120 million on the position today. DE Shaw, which showed a new 3% stake in CROX in its lastest 13F, lost about $60 million based on today\'s decline.
Shares of CROCS were priced for perfection ---- and the numbers just were not perfect.
Shareholders, that have seen shares of the footwear maker defy gravity this year, may be kicking themselves for not selling before the earnings report.
Shares of CROCS were up 250% on the year before the earnings sell-off. The stock is still up 129% on the year ---- still a great return by any measure. But the old Wall Street saying ... "pigs get slaughtered" rings true for those that did not lock in gains.
Mazama Capital, while it has been trimming its position, held 5.7% of CROX at the quarter ended June 30, 2007. Based on today\'s drop, the firm lost about $120 million on the position today. DE Shaw, which showed a new 3% stake in CROX in its lastest 13F, lost about $60 million based on today\'s decline.
You May Also Be Interested In
- Selloff in this Asian consumer stock is overdone: Morgan Stanley
- Citi says valuation in this EU airline stock is very attractive
- Investors should buy this optical stock into this week's earnings: Rosenblatt
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
