Disaster Du Jour
Today's growth stock that reported in-line results but had its stock hammered is Hansen (HANS).
The company missed EPS by a penny and reported +83% revenue growth. For that, the stock gapped down on huge volume and closed down more than -25% for the day.
Obviously, this is a huge overreaction, but not surprising given what we have witnessed this earning season. And this is the reason why I use the word "brutal" to describe some of these reactions.
I don't know how long the healing process will be for some of these stocks, but HANS is quickly becoming a great value, and that much more attractive as an acquisition candidate.