THE CANADIAN PRESS Lululemon Athletica Inc. shares sank 7 1/2 per cent in early trading Wednesday after the New York Times reported that some of its advertising claims “may not be true.” Lululemon (TSX: LLL), whose stock has soared since the Vancouver-based maker and retailer of yoga-oriented apparel went public in July, sells a line of clothing labelled VitaSea, which the company says is made with seaweed. This “releases marine amino acids, minerals and vitamins into the skin upon contact with moisture,” according to the company. However, the Times said Wednesday it commissioned a laboratory test of a Lululemon shirt made of VitaSea and reviewed a test by another lab, “and both came to the same conclusion: there was no significant difference in mineral levels between the VitaSea fabric and cotton T-shirts.” The Times said Lululemon founder and chairman Chip Wilson responded that “If you actually put it on and wear it, it is different from cotton. . . . That’s my only test of it.” The newspaper said it commissioned its test after a tip from an investor who is shorting Lululemon’s stock – betting that its price will fall.
well, i still think their clothes look great
i read today it was a shorting trader who pushed to have the false seaweed report published & researched… Would this be an unethical act? I would think so…
The article states otherwise. The Times did a research based on a tip and the tip came out to be true.
Waite till the quarter 3 results are out. The stock will jump to $45-50 range as soon as those numbers are released (assuming they are good results). Whoever bought this stock a week ago when it hit its resistant point of $35 bucks will be laughing if they hang in and stay on the rollercoaster ride for another few weeks. Once Q3 results are come and gone…I predict this stock to go back down to $38 range after the hype on Q3 is done while after Christmas expect a big jump to possibly $60 again (depending on sales). This stock is extremely volatile and if you get into the swing of it right you can make good profit of it but beware of wrong timing and losing substantial money as well. PS: Yes very unethical what has been done here……Standard IIB: Market Manipulation
N.VanCandidate - are you sure you aren’t pulling a John Mackey on us? Market manipulation indeed. . .
^ Haha no, I am just giving you my personal opinion which could be very wrong or very right.
This shady idiot shorting clearly needs to get out of the office/house more and pay more attention to how good EVERY chicks @$$ looks in these pants!
Hahaha, numi…I know you’re a fan. You and your gf def have good taste!
This is some wacky stock…range of $37.88 to $43.00 in one day. OK lets play a game… call the forecast on LULU for tomorrow… I say start at $45 will end at $40…give or take a few cents….
N.VanCandidate Wrote: ------------------------------------------------------- > This is some wacky stock…range of $37.88 to $43.00 > in one day. > > OK lets play a game… call the forecast on LULU for > tomorrow… > > I say start at $45 will end at $40…give or take a > few cents…. That sounds like a good game…for people who have waaaaay too much free time