Today’s stock pick: XIDE – Exide Technologies, the battery maker.
The stock dropped over 20% today on a not-so-good report on lesser than expected sales. However, they’re expecting a good third quarter, and every time XIDE releases financial info, the stock has tumbled…but it has always recovered by about a buck a share over the next month or two. If you got in at $3.06 today, you’d have already made 3% by 11am when stocks were back up to $3.15. Hold out for $3.50 – $4 and there should be enough time for the stock price to recover before Exide released their 4Q estimates and the stock drops again.
I’m not your stock broker, investing is risky and any advice you use is at your own risk.