May 30, 2012
Author: Mike P.
Investorgroup.com reported that Skullcandy now has the dubious distinction of being the most heavily shorted stock on the NASDAQ. Some may view this as discouraging news but analysts feel the stock will rally strongly. Skullcandy has beat Wall Street Estimates for the past four quarters.
Institutional ownership of the stock has climbed form 50% to 69.18% in a single quarter. Skullcandy’s shares have declined 34% since their market début in July 2011. In 2012 their stock has gone up 6%. Skullcandy has positioned itself as part of the quickly growing smart phone accessory market and industry worth $26 billion in 2010 and projected to be upwards of $50 billion by 2015. Things are looking up for Skullcandy with the release of two new styles planned for this quarter.
This could mean its a good time to buy or a good time to sell. It could also mean that it's a good time to buy and sell or sell and buy. Either way, analysts suggest that you should always buy low and sell high for best return on your investment.
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