I’m way heavy into SKX. I just added to my position @ $29.90. I think the current price is driven by algorithms and fear which feed off of each other thereby exacerbating the situation. It’s JMO, but I think this company is deeply undervalued right now.
Hi Brittlerock, I’m also heavily into SKX, and also bought some more today at $29.88 after I saw this news article. I figure panicky selling may mean that I’m getting a ridiculous bargain. We’ll have to see.
Panicky trading in the shoe sector
Oct 23 2015, 10:37 ET | By: Clark Schultz, SA News Editor
Shoe stocks are falling sharply after earnings reports from Skechers (SKX -34%) and Under Armour (UA -4.1%) reset expectations on a sector where valuation has been stretched out.
Decliners today include Rocky Brands (RCKY -1.7%), Crocs (CROX -2.2%), Steven Madden (SHOO -6.2%), Deckers Outdoor (DECK -4.5%), Columbia Sportswear (COLM -9.2%), Nike (NKE -1.8%), DSW (DSW -3.7%), and Caleres (CAL -4.3%).
Retail shoe selling channels such as Dick’s Sporting Goods (DKS -2.3%), Foot Locker (FL -5.8%), and Finish Line (FINL -4.4%) are also sinking.