What's going on with GRMN?

Discussion in 'Stocks' started by IzzyfoShizzy, Mar 5, 2008.

  1. It had an amazing quarter and had record profits and now all of a sudden its getting dangerously near its 52 week low. It's been dropping and dropping fast.

    Anyone see a bounce soon?
  2. gobar


    check SIRF. ONly GPS chipset maker gave way to weaker quarter and guidance.

    + lots of competition in GPS.
  3. i called the top at 125sh. if the economy recovers it'll be lucky to hit 125 in 3 years.

    i did think it could go to 150 by the spring on strong sales before margins got hit by competition, but with the economy tanking faster than i thought the multiple has contracted.

    investors just aren't willing to pay so much for each $ in earnings given economic conditions. thats the big reason the drop has been some deep.
  4. The mo-mo crowd jumped on it then the mo-mo crowd dumped it.
  5. GRMN got trapped in a bear market right after a downgrade. During the same time it got involved in a bidding challenge story with TOM TOM over Tele atlas.

    However, after all, the main thing is the competition. Look at the stores and see GPS devices are more and cheaper. look at Navigon. ......

    GRMN might pull up if market recovers, but I can not see it back over 100.

  6. I think this has been a little unfairly beat up down to $42. I see it as perhaps a VMW like position trade. I love how the media has not been pumping it though anymore.