GNC had a bit of a wild ride past few days. First it was the China syndrome driving the stock down, shorters probably latched onto that story as well then we get the financial report out today which paints a rosy picture. Shorts had to cover so the SP rallied, only to run into some profit taking.
The China story will not go away in a hurry but whilst the respective govts play politics GNC would no doubt be sureing up alternative markets. Any announcements on securing new markets will help torch the shorts.
Am expecting the stock to drift back down a bit as the good news is now out for the time being and also ScoMo needs to fix the China problem. Decent crops expected this year so we need the following things to line up.
Great Yields Good Prices Secure, reliable customers to empty the silos. $$$$ in producers pockets S.P. with a 4 in front of it.
GNC Price at posting:
$3.66 Sentiment: Hold Disclosure: Held
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