Day: May 28, 2006

CROX Update – Bearish Engulfing Candle

Crocs, Inc. (NASDAQ: CROX): Just a quick update on the reaction to Thursday night’s news of raised guidance and a coming secondary offering. Friday’s reaction was a bearish engulfing candle, with CROX gapping up 8.7% at the open and then proceeding to decline by 14.4% to close at $24.18 on 2.6x average volume, as the market positions itself to relive the selling shareholders of their stock at the most advantageous price (to the market). As stated in Thursday’s posting…