CROCS (CROX) Takes Investors On a Wild Ride
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Shares of CROCS Inc. (Nasdaq: CROX) are under heavy pressure today following third quarter results after the close. While the company reported strong growth, investors were disappointed in the top-line revenue number and the guidance.
Shares of CROCS were priced for perfection ---- and the numbers just were not perfect.
Shareholders, that have seen shares of the footwear maker defy gravity this year, may be kicking themselves for not selling before the earnings report.
Shares of CROCS were up 250% on the year before the earnings sell-off. The stock is still up 129% on the year ---- still a great return by any measure. But the old Wall Street saying ... "pigs get slaughtered" rings true for those that did not lock in gains.
Mazama Capital, while it has been trimming its position, held 5.7% of CROX at the quarter ended June 30, 2007. Based on today\'s drop, the firm lost about $120 million on the position today. DE Shaw, which showed a new 3% stake in CROX in its lastest 13F, lost about $60 million based on today\'s decline.
Shares of CROCS were priced for perfection ---- and the numbers just were not perfect.
Shareholders, that have seen shares of the footwear maker defy gravity this year, may be kicking themselves for not selling before the earnings report.
Shares of CROCS were up 250% on the year before the earnings sell-off. The stock is still up 129% on the year ---- still a great return by any measure. But the old Wall Street saying ... "pigs get slaughtered" rings true for those that did not lock in gains.
Mazama Capital, while it has been trimming its position, held 5.7% of CROX at the quarter ended June 30, 2007. Based on today\'s drop, the firm lost about $120 million on the position today. DE Shaw, which showed a new 3% stake in CROX in its lastest 13F, lost about $60 million based on today\'s decline.
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