You’d probably scratch your head when you read Hansen’s earnings transcript then look at the stock price. After reporting pretty good numbers it just wasn’t enough for investors. Hansen missed by just a penny, sending the stock down hard.
Last Thursday I was very angry at Citi for downgrading the stock two days before earnings! I covered my short in HANS last week with the intent of shorting again on Friday to avoid a pre-earnings run. Citi sent HANS down a good $6 with there downgrade, making my re-entry point a very nervous one. Nevertheless, I stuck to my belief that HANS was way overpriced and was due for a correction. I still think Hansen will head towards the mid twenties, but I guess I’ll have to wait for their conference call to get a better feel.
Joined Jul 30, 2008
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