JLG Down Hard Today
JLG is down 6% today. I loaded up at $21 in my personal account and it's still crashing.
There is no news.
Frankly, I am concerned. It is down 38% from its high 1 month ago when it reported incredible earnings. There is no news. I disregard today's construction report. Only massive institutional selling could account for this. What do they know that we don't?
1. Overpriced? I don't think so. Current P/E is now 15. Profits doubled Y/Y. Guidance was raised for this quarter.
2. JLG's future is not that bright. Hmmm, JLG announced last quarter that rolling into this quarter they had ~$1B of firm orders, vs ~$650M last year. Expectations are for 50% growth next 12 months. Sales are expected to grow 31%
I conclude that either the company, after just reporting powerful earnings, is messing up and we don't know it but institutions do. Or someone is attacking the stock.
I am reluctant to sell a stock that has become this cheap and has this much potential. But I don't like being against market sentiment.
There is no news.
Frankly, I am concerned. It is down 38% from its high 1 month ago when it reported incredible earnings. There is no news. I disregard today's construction report. Only massive institutional selling could account for this. What do they know that we don't?
1. Overpriced? I don't think so. Current P/E is now 15. Profits doubled Y/Y. Guidance was raised for this quarter.
2. JLG's future is not that bright. Hmmm, JLG announced last quarter that rolling into this quarter they had ~$1B of firm orders, vs ~$650M last year. Expectations are for 50% growth next 12 months. Sales are expected to grow 31%
I conclude that either the company, after just reporting powerful earnings, is messing up and we don't know it but institutions do. Or someone is attacking the stock.
I am reluctant to sell a stock that has become this cheap and has this much potential. But I don't like being against market sentiment.
posted by Andrew at
11:20 AM
1 Comments:
I got it at 21.5 and if it goes below 20 I am out. Should I consider getting some puts ?
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