Having opened a new (1/4 sized) position recently at mid-52 (I also think the analyst consensus on earnings seems to be wrong due to the HW comps) and seeing it drop another 6.5% today, I’m curious. Since it’s not a full position, I’m happy to add to it on such a drop and reduce the cost basis, but with such a precipitous drop in one day, there’s usually something behind it. Is this still fallout from misunderstood earnings? Maybe we add an extra day to the 3-day rule because of the hurricane and peoples’ attention being pointed elsewhere?
I had a small position from last year but started adding after a recent bullish discussion here. Growth is not slowing as it seems. As it turns out, I was a little early buying in the 50’s. So I’ve added more today. It’s now my #3 position.
It would be interesting to hear what others think but I doubt much has changed since the last discussion just over 2 weeks ago.
dave