Buy This Stock for $12 Less Than the Insiders Paid
You may consider them hideously ugly…
Or you may consider them practical, convenient and surprisingly stylish…
But whatever your opinion, plastic shoemaker Crocs (Nasdaq: CROX) has been one of the most impressive turnaround stories in recent years.
As you read this, Crocs are being sold in 85 countries throughout the world – including in 193 outlet stores, 107 retail stores, 373 company-operated stores and 73 kiosks/stores-within-stores.
Back in February, Crocs reported strong fourth quarter earnings, but a weak outlook spooked investors, which triggered a sell-off.
Year to date, Crocs shares are down 50%, far outpacing the 10% decline of the S&P 500.
However, it’s worth noting that two Crocs insiders recently stepped up and bought millions of dollars’ worth of shares.
- First, Director Doug Treff bought $1.5 million worth of shares for around $84.13 per share.
- Then, Chairman Thomas Smach bought $986,000 of shares for around $82.88 per share.
Before these purchases, neither insider had bought Crocs stock on the open market for years.
Action Plan: With shares now trading around $70, you can own Crocs at a $12-$14 discount relative to what the insiders paid – which could be the deal of a lifetime. Research firm Baird has an “Outperform” rating on the stock and a $200 price target. Even if shares recover to only half of that, buying today for $70 could represent a timely entry.
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Here’s our full training schedule for this special week (you can rewatch these sessions at your leisure):
- Monday, March 14, 1 p.m. ET: Options 101: How We Trade for Daily Gains (Intro to Calls and Puts)
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- Wednesday, March 16, 1 p.m. ET: LEAPS: Play Your Favorite Stocks With Less Money Down
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Monday Market Minutes:
- With stagflation a major fear, the Global X Lithium & Battery Tech ETF (NYSE: LI) is a great proxy for electric vehicle plays and high oil prices. It holds names such as Tesla (Nasdaq: TSLA) and Albemarle Corporation (NYSE: ALB). It also tends to benefit when inflation expectations are heating up and growth expectations are cooling – both of which are occurring right now. Tracking.
- Lockheed Martin (NYSE: LMT) shares gained 1.6% in the premarket period after sources told Reuters that Germany would purchase up to 35 fighter jets from the company. If this trend continues, the basket of aerospace/defense plays we’re holding with April expiration via the Direxion Daily Aerospace & Defense ETF (NYSE: DFEN) will be in great shape. War Room members have been profiting from DFEN trades even in the current volatile markets. Click here to get in on the action.
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