Earnings will be announced on November 9th! Whats everyone's thoughts on this? We touched 28.65 which is think is right around the support area and bounced back up to 35 last time we hit this area.
My thoughts 1. Before last earnings it was trading in the mid 70's region, they beat the estimates but lowered guidance for this quarter causing the crash. My thought is could their earnings really be that terrible that would make it worth less than half of what it was the previous quarter?
2. A new competitor entered the market today causing the stock price to go below 30. My thoughts here, alot of people say soda is done growing and the market is limited. If this were true why would another competitor enter the market?
3. Took a position at 30 today after we bottomed once and thought it would be a bounce but wasn't big enough so were still holding.
Theres my thoughts for the day haha
Any other opinions would be great to hear.