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Skullcandy (SKUL -9.4%) plummets to new post-IPO lows after receiving a two-notch downgrade to...
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Wednesday, January 2, 10:01 AM ETSkullcandy (SKUL -9.4%) plummets to new post-IPO lows after receiving a two-notch downgrade to Underperform from Jefferies, which cites a lack of pricing power and growing competition. The headphone vendor, which had 39.7% of its float shorted as of Dec. 14, now trades at 7x estimated 2012 EPS.
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But if it goes back under $6.75 it might be worth picking up a few shares.