Earnings call ambiguity a factor in Kate Spade freefall

|About: Kate Spade & Company (KATE)|By:, SA News Editor

The bottom just fell out of Kate Spade (KATE -18.8%) this morning after shares had run up a tidy 7% post-earnings gain.

During the firm's earnings call, execs said they "might" push out long-term guidance by a year.

That ambiguity by management and the heavy hand of short-minded traders appear to be swinging momentum.

Volume on KATE is already 10X normal activity.

Earnings call webcast