Skechers stock plunged today, closing down 7.72% at $19.60 (google.com/finance). The stock fell so much because Stern Agee changed the rating of the stock from "buy" to "sell." Their original target for SKX was $30; it is now $16.
Having said that, I think it's time to BUY BUY BUY (again). I disagree with the so called experts at Stern Agee. I am still confident this stock is going to get its break, possibly after the next earnings report in early 2011. I have already invested in Skechers, but this minor setback does not put me in a panic at all. I plan on buying some more shares at a price of $19.40 (this may vary depending on the outlook during the pre-market). It's a steal to not buy this stock now and you may kick yourself later for not getting in on this hot deal. Hit that Bull's Eye!
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