I bought in at $17.46 and don't see any reason to sell, but the plummeting price has me concerned. Any ideas why it's at $13.75? I haven't seen anything to explain the drop.
They reported flat earnings per share and were downgraded by someone.
I'll give you reasons. Lakeland has moved production to China.The US is talking about imposing a 25% duty on goods from China to reduce the trade imbalance etc. In todays,USA economic climate meeting targets is just not good enough. Companies get dropped quickly and small companies feel a large impact. Good logical reasons but probably not the right ones. In my previous mail I wrote about how dismayed I am by Lakeland's blindspots as reflected on their web-site. But this is just part of America's inability to accept its own economic decay.Read the "Economist" or something else which gives a more global outlook.See how money runs from nation to nation. Watch real-estate prices rise,double in two years,in Spain ,Australia and now India. Look at the last bond prices for Ford and GM. Little Lakeland in this vast sea;who cares? They,themselves, don't even disdain to make regular press releases. My only comfort is that I don't think that they can do much worse.
The downward movement of Lake has nothing to do with the quality of their Web Site. It has nothing to do with China, Spain, Australia, India or the bond prices of Ford and GM. I would genuinely surprised emsarah did not break into a verse of "The International" (probably in French) while typing that diatribe on "America's...economic decay"Lakeland's problems were summarized in their April 15th Annual Report which provides a warning for a tough 2006. Those not in for the long haul are taking profits. I believe that Lakeland will be OK in the long haul and that is why I bought it after looking through so many companies for my latest investments. Just about everything is taking a hit at the moment--Lakeland's announcement just came at the same time the market was dropping.As for "America's...economic decay", if you do not like American Companies or America...go invest elsewhere.
I believe ccEagless01 narrow, chauvinistic Weltanshauung has nothing to do with valuation of Lakeland, and is utterly meaningless blather compared to his insight about Lakeland's own recognition of problems going forward. That the US is in a precarious position economically is obvious to anyone who can read or who hears about neighbors being laid off. Since CCEagles01 has a proved ability to read, I assume he must be deaf. He probably boycotted Les Miserables, not only because of its socialist theme but because of its French origin and setting.
My e-mail to Lakeland was a month ago. Thank you for reaction.
My e-mail to Lakeland was sent a month ago. Thank you for reacting.I hope to be proven wrong. Choosing patriotism as a bias in financial decisions can be fatal. Lakeland moved to China.
After reading their Annual Report I'm tempted to re-up under $14. I plan to hold onto my current shares regardless. Just wish I hadn't bought in near $17.50!
Actually, I enjoyed Les Mis, my hearing is fine and my neighbors are doing quite well, thanks.
Just bought the stock and added the board but your welcome.
I think you are correct. The reprot is certainly not what I would call horrendous. Don't feel bad though, I bought at $19.75. I think we will both be fine in the long run.
I just bought in today at 13.50, so I am hoping that this current pattern matches what happened in late October/early November where LAKE had consolidated around 15 before moving back up to 19. Based on a similar pattern, LAKE ought to at least retrace to about 17 over the next 1-3 months. Long term, I have no idea. This was just one of the many HG stocks I was buying after a significant fall from its 52 week high. I was hoping for a good margin of safety, but one never knows...Jim
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