Posted on November 26, 2020
Today’s trade is based on textile manufacturer, Kontoor Brands (NYSE:KTB), makers of Lee and Wrangler denim apparel.
We like the product.
But even dungarees have their limits, no?
For starters, it’s jeans we’re talking about here, and they have nothing to do with the Batflu.
So there’s very little reason for the incredibly steep rise in price we’ve seen over the last two months.
That is, it’s not ZOOM.
In fact, as you’ll see on the chart below, the move from $13 TO $45 in half a year – while sales and earnings were dumping – makes little sense at all…
Particularly today, when…
Take a look now at the daily chart –
Breakeven arrives at $40.70 [current price is $43.40].
Many happy returns!
P.S. come back tomorrow for news on IBP, CROX and EXPE.