When a much adored stock takes a kicking after encountering two sub-perfect quarters, there will always be calls to buy the dips and of course the lower you go, the louder these calls become.
This is the case with ASOS (OTCPK:ASOMY), the online retail darling that has encountered some rather predictable costs of expansion that no one seemed to have predicted. Fair enough the problem in my opinion, the market hadn't properly priced the risk of the expansion, which partly explains the de-rating
As of today, the stock is now nearly 70% off the February highs and 2016PE is at 35x. Brokers have been re-iterating their buy calls all the way down yet relentless selling has run over...
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