What’s going on at FOSLl today?
More layoffs announced or did the Dino sells the company off after all his wrong decisions?
6 replies (most recent on top)
Wait for the earnings...the stock with go back above 20$ in no time, easily into the 30s. Market cap is now less than 1bn on revenues of at least 2bn, no debt and margins returning to positive after all the painful but necessary cuts. If 3Q was an indication for the new EPS base line, on an annual basis Fossil can print an EPS of at least 1$-2$ which means now PE is less than 10x. A great bargain in these markets IMHO.
“stonks”
It`s a consequence of the short squeeze. People were covering short positions to avoid AMD, GME, Nokia etc. situation. It has nothing to do with companies fundamentals or long-term interest.
It's more in likely due to a securities renewal or something that is keeping them in business that's about to expire...this weekend IS the end of the month. A rise in stock price is not always an indicator of a turnaround.
It is not because business is good. Look at AMC and GameStop. Way overvalued for crumbling companies. Same story different verse.
Insider trading. And yes, the you will get caught.