Wild Ride In Harley Davidson After Q1 Report

Harley Davidson

shares are trading lower by $1.70 at $45.25 in Tuesday's session. However, that does include the trading action from frenzied premarket trading. Upon the release of its Q1 beat for EPS of $0.06 along with a slight beat for revenues, the issue roared to $50.60. That put the issue back in the area it was before April 5, before it was shellacked on April 6 (falling from $49.84 to $46.34. That is the day that reports surfaced that the motorcycle maker was losing market share at an "accelerated pace". After close on that day William Blair downgraded from Outperform to Marketperform, citing a slowdown in retail sales for Q1. Over a three day period from April 5-7, the issue swooned nearly $7 from $51.22 to $44.50 and bottomed the following day at $44.37 before staging a sustained rebound. Following the brief spike over $50, it sharply reversed course and was trading in the $47 by the open of the regular session. Off the open, it peaked just above Monday's high ($47.33) and just below Friday's high ($47.62) and began to move lower. The quick retreat once again found support in the $44 handle, in the area of its former low at $44,54, It has now reobouded and is now attempting to remain in the $45 handle.