Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: China Xiniya Fashion
So what: There wasn't any major news from the company, but today's move was curious, considering some positive announcements from analysts recently. On Monday, three analysts initiated coverage with buy or outperform ratings, but the stock can't help but continue its free fall this week.
Now what: The market may also be disappointed with full-year 2010 estimates of $131.5 million to $134.5 million in revenue and gross margins of 34% to 35%. At The Motley Fool, we have a keen skepticism for analysts, but all three gave positive ratings after the 2010 estimates, so this drop looks like a decent buying opportunity. Investors may want to give it a few days to see if there are more drops, just in case.
Interested in more info on China Xiniya Fashion? Add it to your watchlist.
