CROX is halved from its pre-earning high of $75.00, and now it sells at around $37.00, about the same price as Mindray (NYSE:MR). I know I am comparing apple to orange.
On the news, sub-prime mess among big banks, $100 a barrel oil and today weak retailer report did not help. But more importantly, it appears to me the short sellers of CROX, are taking this oppertunity to make a killing.
But all these are short term issues. For instance, the sub-prime loan loss for big banks. Morgan Stanley said it’s going to lose $3.7 billion from this. Although the number could be bigger later on, I would think Morgan Stanley would recover from this, and continue doing their IB business? Similar things can be said for Citibank? I’m not saying go buy those financial stocks now, as I am no expert on financials. But I would think the financial institutions, as the foundation of US and global economy, will not all go bankrupt?