Crocs Inc. (CROX) popped on Tuesday, as the “rubbery” clogs shoe maker upped its sales estimates and announced an accelerated buyback program. An expected jump in digital growth and sales increases in non-US market pushed the stock (+8.47%) higher yesterday. At the Crocs (CROX) Investor Day presentation, CROX management said that the casual-footwear company was targeting more than $5 billion in sales by the year 2026. –
Note the two panels on the left. Chart below – click to enlarge.
“The company also announced its intent to buy an extra $500 million in Crocs stock by the end of the year — putting its repurchase program at $1 billion this year.
Crocs reiterated its financial outlook for 2021.
In July, Crocs forecast sales growth of 60%-65%. Second-quarter results for Crocs, reported at that time, beat estimates.” – Investors Business Daily
We’re looking for a followthrough today. using 3 simple principles.
1) Does the stocks have a fundamental catalyst?
2) Does the stock have a good technical chart
3) Does the stock have positive sentiment – pops on good news or bad.
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Happy Trading,
Vinny
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