Posted By RichC on September 27, 2006
As much as I like Crocs as a company, a stock (CROX) and as a trendy shoe ‘fad,’ the recent jump in stock price in a hot stock market triggered one of my self imposed trading rules today: it moved 15% up or down in 3 days so I sold at $34.64 this morning. (I’m a big advocate of several 3 day trading rules)
I learned about Crocs after wearing this shoe and stomping around the beaches of Hawaii on a recent vacation. I of course started seeing them everywhere after wearing them and being impressed. (that’s usually the way it is … you don’t notice everybody that has something until you have it) I found them very comfortable and definitely unique and decided I would invest a few dollars in the stock CROX. Obviously I’m not the only one noticing this fad as I watched the stock continue to show good volume. I hate to sell and I suspect on the next downturn I’ll repurchase the shares … now to figure out how to write off the vacation as an investigative investment trip!
Crocs, Inc. engages in the design, manufacture, and marketing of footwear for men, women, and children under the â€˜crocsâ€™ brand worldwide. The company produces soft and lightweight, nonmarking, and slip- and odor-resistant shoes. It also manufactures and sells a line of crocs-branded apparel and accessory items, which include t-shirts, sweatshirts, hats, beanies, and socks, sunglasses, baseball hats, power straps, and kneepads; and nonbranded products, such as spa pillows and kayak seats that are marketed to original equipment manufacturers. The company sells its products through various footwear channels, including specialty footwear stores, outdoor retailers, and sporting goods and department stores. It also sells its products through other specialty channels, including gift shops, uniform suppliers, independent bicycle dealers, specialty food retailers, health and beauty stores, and other specialty stores. In addition, Crocs sells its products directly to consumers through its Web site, www.crocs.com, and through company-operated kiosks that are located in high foot traffic areas. As of December 31, 2005, it operated 50 retail kiosks domestically and internationally. The company distributes its products through approximately 6,500 store locations in the United States. The company was founded in 1999 as Western Brands, LLC and changed its name to Crocs, Inc. in January 2005. Crocs is based in Niwot, Colorado.