Roger, I don't see how they can have a P/E in the 20's unless it's forward looking. Also, every time they have been "comfortable" with analysts' estimates, they have exceeded those estimates, sometimes by wide margins.
As far as the butchering, it's nothing new for this stock. This past December, it opened at $55, then during the December tech sell off, dropped as low as 36.50 (33%), before recovering to 44 at the end of the year. Then in January, it dropped as low as 32.50, then headed north to over $100 in less than five months. I guess the "butchering" to $78.25 is relative to where you've been, and when you got on the train.
It looks oversold to me, and I added to my position this morning. My original basis is $6, so I guess I've been conditioned to the volatility. : )
David |
