I want to start with I’m newer to investing and I really want to do the buy and hold strategy. But I started buying into CROX about 5 months ago. Cost basis was 2.7% of my portfolio, now it’s 5% of my portfolio. I’m up 106% from my opening position and 79.6% overall. This is incredible for me over a 5 month period.
They had an increase of 60% in sales YoY. They expect $ 3.55B of sales for year 2022. Their acquisition of Hey Dude seems to be working out really well. Current market cap of just $7.4B. Price target just raised to $155 with current price of $121. Current p/e of 13. I still like the stock, but I am worried it increased so much so fast it’ll come back down. I bought thinking it was undervalued and expecting it to increase, just not this much this fast lol.
Now I see some upside still in 2023, but if a recession happens I’m not sure it’ll keep pace with the 2022 growth. After the 60% run up in the last 3 months and how much I’m currently up. Should I just sell now and take my profits? Or wait it out and not “time the market”. Or do I keep adding to it? Is this a signal to buy with it showing strong signs in Q3 and Q4 with a successful acquisition and growth?
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