This post was just published on ZYX Short Change Alert.
The present ZAGG position is short from $13.85. Profits have previously been taken as low as $6.70. Over a long period of time, significant profits have been booked by trading this position. 50% of the full core position size is being held.
Our long-standing target zone has been $3 to $5. Today in the pre-market the stock traded as low as $4.93 and now has moved up to $5.05.
ZAGG lowers FY13 revenue view to $245M-$252M, consensus $273.73M. For the second half of 2013 the company expects slower retail expansion and projected softness in Europe to continue to impact revenue. Randy Hales, President and CEO, said, “We are disappointed in the lack of progress that has been made in expanding our product assortment with our existing customers and the slower than expected extension of our distribution footprint this year. Additionally, we have been impacted by the continued softness in the European markets. While our product pipeline is strong, and the feedback on our new products has been positive, we need to concentrate additional focus on our sales strategy. Effective immediately I am expanding my responsibilities to assume a leadership role in the execution of our sales plan.”
What To Do Now?
Those in this stock and have previously realized large profits may continue to hold as more gains are yet to come.
Those in this stock and have not previously realized large profits may take partial profits right here.
Those not in this stock may not enter at this time.
