Danish luxury jewellery maker, Pandora, has reported lower earnings than expected. With trade at some parts over today disorderly on the 10.58% move lower to 672 DKK.
Total revenue for Q2 was 4.83 billion DKK, which was less than the expectations of 4.91 billion DKK. The US is the company’s largest market that is projected to be problematic, with CEO Anders Colding Friis commenting that the retail sector is proving and challenging.
Previously this stock was heavily shorted by hedge funds – but interestingly, despite this heavy sell side bias, the stock was trading at 775 DKK prior to today’s results and significantly away from the recent low of 599 DKK in May.
Jordan Hiscott, Chief Trader
The views and content expressed above are the views of the author and do not reflect the views of ayondo markets. This service is for information only and should not be interpreted as investment advice or any recommendation to enter into a financial transaction.