Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Is Mr Rosenstien's Jana Partners The Answer To $PETM Share Price Woes?

|Includes: PetSmart, Inc (PETM)

The share price soured on Thursday after it was revealed that hedge fund, Jana Partners, had acquired a 9.9% stake in the company. The hedge fund is run by activist investor Barry Rosenstein, who will no doubt have big plans to present to the company's board of directors. Like all investors Mr Rosenstien has only one aim - to make a profit from a higher share price.

Technical: talk about a colorful past. The PETM share price rose from below $15.00 in late 2008 to above $76 in 2013, before starting on a volatile ride back down to $55.00 in May. It's since jumped up to its current level of around $67.00. The share price action since that 2013 peak has been in a classic down trend. The big question now is: can the likes of Mr Rosenstien kick-start another big multi-month push higher, or will the sellers stymie his enthusiasm and yet more punishment be dished out?

IP's Strategy: the company is currently in the Active Team and thanks to Thursday's share price jump subscribers that jumped aboard in June are now sitting on a descent profit. Even better is that the stop loss level, which we don't publish, it now well above the entry price.