A lot of former momentum high fliers have been trashed of late - Green Mountain Roasters (NASDAQ:GMCR) is definitely near the head of the list. The stock was actually holding up quite well during the majority of the swoon in the market late summer, early fall - but a short selling presentation by respected hedge fund maven David Einhorn a week and a half ago, crushed the stock. It's lost about 40% of its value in that time.
Here is the report if you are interested
I thought earnings were tonight and this potentially set up a very interesting risk reward as the stock is down over 40% in the past two weeks, but it appears the original date (which many services had listed as tonight) has changed. I just called investor relations to check, and the recording says as much. Expectations are extremely low - obviously.
On the flip side, there are still massive gaps in the long term chart that eventually should be filled - one down at $45 and another at (gulp) low $30s. But usually things don't move in a straight line. We'll see how this one plays out. But the 'momo' group has taken some serious hits this week.