Friday, February 21, 2014

Geeknet (GKNT) Reports 4Q'13 Results (GKNT Crashes)

Geeknet (GKNT) is crashing today (02014.02.21) after reported 4Q'13 results. Right now, eight minutes into trading, GKNT is down almost 18%. GKNT is an important GDT::Portfolio stock, so this sucks. I sold some GKNT back on 02014.01.07 at 6 $Pi, but now I wish I had sold more. I was nervous about the Geeknet being silent with respect to ThinkGeek's holiday sales. D'oh! Borrowing from the rock band Styx I wish I could "find myself a crystal ball."

At $10.18 our GKNT investment will be underwater. The question I'm asking myself right now: At what price might be a good price to buy some GKNT?

[update::02014.02.22] GKNT closed yesterday (02014.02.21) at $14.47, which means the company lost ~16% of its market value. Volume was 225,449; however, GKNT is a thinly traded stock that had a trailing-3-month average of 11,974. Approximately 3% of GKNT shares were traded.

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