Crocs (CROX) Sees An Up Day After Severe Beating
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Crocs (Nasdaq: CROX) is bucking its recent downtrend today after falling 5 of the last 7 sessions following disappointing third quarter results and guidance.
Shares of Crocs are off nearly 50% from the 10/31/07 closing price, the day before earnings were announced.
With 21% of the float shorted, some of today's move is likely due to short covering, as those that were beting against the maker of the popular plastic clogs have to buy stock to lock in gains.
Wall Street analysts are still mostly positive on the name. The stock boasts 7 Wall Street Buy ratings, 2 Holds and 1 Sell. Many of these Crocs-lovers reiterated their positive stance on the company after the earnings report and subsequent beating.
Market mavens are mixed on the stock. Mad Money's Jim Cramer said sell Crocs, saying the upside momentum trend is broken. Fast Money's Karen Finerman is positive on the stock, calling it oversold.
Crocs is up about 4% today.
Shares of Crocs are off nearly 50% from the 10/31/07 closing price, the day before earnings were announced.
With 21% of the float shorted, some of today's move is likely due to short covering, as those that were beting against the maker of the popular plastic clogs have to buy stock to lock in gains.
Wall Street analysts are still mostly positive on the name. The stock boasts 7 Wall Street Buy ratings, 2 Holds and 1 Sell. Many of these Crocs-lovers reiterated their positive stance on the company after the earnings report and subsequent beating.
Market mavens are mixed on the stock. Mad Money's Jim Cramer said sell Crocs, saying the upside momentum trend is broken. Fast Money's Karen Finerman is positive on the stock, calling it oversold.
Crocs is up about 4% today.
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