I have been following a web based video program on the stock market called "WallStrip". I found it on YouTube accidentally looking for a video about Israel and they had done a show on a mutual fund of Israeli stocks. I've been watching ever since, but not paying any attention to the stock market.
In August they had a contest to predict the pric of Crocs (CROX) stock a month later. At the time it was almost $60 a share and flying high. I predicted it would be down to $38 a share in September. I based my prediction on Crocs being summer shoes, although they do sell boots, and the strong Canadian dollar.
The season for Crocs to sell their shoes to wholesalers, which is where their profits come from, was long over by August but no one seemed to notice as in the U.S. people were still buying them. retail. A few days later a child in Singapore had a bad accident on an escalator wearing Crocs, but if you read the fine print instead of the headlines, she was wearing Crocs clones, not real Crocs.
I figured that with the increase in value of the Canadian dollar which would make Crocs more expensive, the lack of wholesale sales
and what turned out to be a public bashing of them in the press, their stock would fall.
I was wrong.. In September Crocs stock peaked at around $60 and in October peaked even higher at almost $69. I've since forgotten about Crocs except that I have a pair of them, purchased at a rediculous Israeli price (they are price fixed here) and wear them whenever I go out.
Today I was watching WallStrip and noticed in the comments by the person behind the stock predictions of the show that Crocs
are now really down and lots of money was lost and made selling them off. So I checked and the current price of Crocs stock is $29.52, up from $28.94 last week.
Oh well, if only I had the money to invest in them and knew how to make money on a falling stock.