This earnings season has been interesting. It seems that several companies with excellent earnings reports have had their stock price beaten down significantly. I don't get it. Revenue and earnings beats are resulting in the stock going down. The reason given is that the forward guidance disappointed.
Tomorrow that is going to happen one of our holdings, The Priceline Group. It is already down $137 in after hours trading. This phenomenon has also happened to a few other companies I am trading. My expectation is that the drop is short term and the stock prices will recover since these are outstanding companies.
We'll see...
Disclosure: We own shares of Priceline.
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