Breakout Stock Sees Downward Action For Garmin (GRMN)

Bryan Ashenberg, portfolio manager of Breakout Stocks spoke about prospects of Garmin (NASDAQ: GRMN) on TheStreet TV.  Breakout Stocks thinks that company was doing well in past months because retail stores were re-stocking personal navigation devices for the holiday season. In their opinion the company doesn't have more legs beyond that and it will be seriously challenged.

Garmin (GRMN) is releasing a Nuvifone in October which won't help them a lot, thinks Bryan Ashenberg of Breakout Stocks. He advised investors not to buy this stock.

Garmin (GRMN) fell 4.5% in regular trading, closing at $36.04 and extended its losses to $35.5 in the after hours.