SKX's 10% Jump

Up over 10% today. From Motley Fool’s Timothy Green:

Shares of footwear company Skechers (NYSE:SKX) jumped on Wednesday, closing up 10.15%. There was no specific news driving the stock, but with shares of Skechers down about 44% over the past month going into Wednesday, a strong day for the stock market was enough to send the stock soaring.

After massive declines, it’s not all that uncommon to have big positive days driven by no real news at all. The strong stock market on Wednesday certainly helped, with the S&P 500 up about 1.6%, but Skechers is still well below pre-earnings levels. The stock may continue to be volatile, but for long-term investors, it’s the performance of the company that really matters.

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  • Matt

Last night Cramer said it was a good buy, but not sure he can make it pop 10%.

1 Like

Nice conviction buyer day. A weekly close over 29.15 could mean sentiment has changed on the stock. That would be nice

Here’s one thought: Skechers presented at the Morgan Stanley Global Investor conference on November 17th and they did a very good job on their presentations.