Surveying the Retail Carnage
Ouch! There is no delicate word to use when describing what went down with retail stocks yesterday (yes, we received a couple of intraday reversals, but the session was brutal). If each retail stock represented a person standing in the middle of a busy highway, than every press release issued by the underlying companies constituted a Mack truck on nitrous oxide occupied by a careless driver unwilling to stop on red.
Let's hit the retail rundown hard. First, was the mostly across-the-board slamming of the stock prices deserved? Second, would one be an intelligent investor by buying the dip? I will offer this guidance: Better pick and choose very carefully in retail, as the sole overarching message from the coal-filled December reports was that aggressive discounts, much to the dislike of bonus-seeking management teams, are here to stay....876 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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