I cannot believe people willing to pay big bux for ugly scandal, and they sold like hot cakes. Not only kids, adult wears them too. I see doctors wear them too. It's ugly, I would never put it on.
<img src="http://www.essenuoto.fi/WebRoot/Kaupat/Shops/Essenuoto/Products/Kuvat/Crox_malleja.jpg"></img>
People realized that all they had to do was wrap a few layers of swiss cheese around their feet and they no longer needed to buy CROX.
I bought it two weeks ago (posted here) in the previous low and sold most of it near the high. I have been buying either shares or calls as it sold off from there. To be totally honest I am surprised it is down as much as it is. I fully expected a wild ride, but thats what you get for playing with fire.
To be honest it is hard to pick the bottom when a "fad" labelled stock gets hit but Crox has many more product lines than those ugly shoes and I think at $10 - $11 right now with its balance sheet strength and healthy profit margins, it can still be a decent stock once the turbulence settles. I do not know about before but now that the guidance for the year has been set and the stock took the hit, I think buying it now at just under $11 either through stock or rolling long calls over time will prove profitable by the end of the year. With calls it is a limited risk play and even with the stock you can put a stop a few points below this but if it can settle I think from TODAY's stock price, it can rebound a little if the company pushes the strengths of its other product lines. JAN 2009 $10 Calls at $3.60 look like a nice low risk play for a move by the end of the year perhaps back to $20. Decent r/r for a shot at a big return (obviously this is not a blue chip investment).
Many people prefer comfort over looks. Doctors and Nurses wear them because they are on their feet all day, and crocs are the most comfortable shoe you'll ever wear.