Contrarian Stock Market Investing News - Featuring Bargain Stocks » Whole Foods Market http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Whole Foods (WFMI:Nasdaq) Plummets: It’s about time! http://www.contrarianprofits.com/articles/whole-foods-wfminasdaq-plummets-it%e2%80%99s-about-time/2109 http://www.contrarianprofits.com/articles/whole-foods-wfminasdaq-plummets-it%e2%80%99s-about-time/2109#comments Thu, 15 May 2008 12:17:00 +0000 J. Christoph Amberger http://www.contrarianprofits.com/articles/whole-foods-wfminasdaq-plummets-it%e2%80%99s-about-time/2109 I may have been premature when I asked you to short Whole Foods Market, Inc. (WFMI:Nasdaq) on April 24.

The green grocer’s stock price plunged close to 14% today the company reported shrinking first quarter profits that missed Wall Street’s estimates. “So much for the theory that Whole Foods’ customers were such chic-chic bourgeois butterballs that they would always spend top dollar for an organic quiche. And that the company would be immune to a downturn,” snarked Al Lewis of Denverpost.com.

The stock traded at $31.63 that day. And of course, climbed up to $35 by May 2. Today, the stock dropped as low as $28.85… almost -9% below my initial recommended short price and -17.5% below the post-recommendation high. If even…

]]> I may have been premature when I asked you to short Whole Foods Market, Inc. (WFMI:Nasdaq) on April 24.

The green grocer’s stock price plunged close to 14% today the company reported shrinking first quarter profits that missed Wall Street’s estimates. “So much for the theory that Whole Foods’ customers were such chic-chic bourgeois butterballs that they would always spend top dollar for an organic quiche. And that the company would be immune to a downturn,” snarked Al Lewis of Denverpost.com.

The stock traded at $31.63 that day. And of course, climbed up to $35 by May 2. Today, the stock dropped as low as $28.85… almost -9% below my initial recommended short price and -17.5% below the post-recommendation high. If even a millionaire lawyer like Obama is concerned about the price Whole Foods charges for arugula, I don’t quite see people flocking to stock up on it in the current quarter, either. Take short profits over the next two days… and shoot for double-digit profits!

I’ll let you know when before Friday! But remember… you heard it here first!

Yours cordially,
J. Christoph Amberger
Executive Publisher
TodaysFinancialNews.com

P.S.: And please make sure you check out TFN’s roving editor Andrew Snyder’s new artice “ETF Investing: Protect yourself from the downside”.

Source: Whole Foods (WFMI:Nasdaq) plummets: It’s about time!

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