Bulls are laughing and bears are crying today. CROX busted through $60 to a mid-day high of 61.99 before settling at 59.98 today on news of a brand new apparel line.
The new line for men and children will debut at MAGIC Marketplace in Las Vegas Aug. 27-30. Pretty cool stuff. Haven't seen a pic yet, but the video footage shows a hybrid of Crocs Caymans and other more traditional material. I was up late today, probably worn out a bit from a deluge of work in the past few weeks. It was superb to wake up at 9 a.m. Hawaii time to find CROX up nicely on an overall down day.
The stock has rebounded with conviction since hitting that recent low of 44 two Thursdays ago. As volatile as the stock is, the products are resistant to a credit crunch, I believe. The global market is still new to Crocs, so I'm staying long for quite some time. CEO Ron Snyder will continue to acquire smaller companies, and CROX could emulate the Flextronics approach to growth (1998-2000, the stock there went from 11 to 40). Or CROX could sustain growth much longer. The distribution system is superior and Snyder and his BOD are on a mission.
Monday, August 27, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment