Lululemon Volatile After Q1 Report, Hasn't Closed Above $70 Since 2013
Lululemon Athletica inc. (NASDAQ: LULU) shares are trading higher by $1.22 at $69.36 in Wednesday's session. The issue has been holding well considering it reported a Q1 miss of a penny with a slight beat for revenues. Also, the company offered lower Q2 and FY 2015 guidance.
In a wild first four minutes of trading, the issue went from $69.43 to $67.30, before rebounding to make a current intra-day high of $70. The low was just ahead of a pair of lows from Monday and Tuesday at the $67 and $66.96.
The high slightly exceeds its former high for the move at $69.73. It matches its April 10, 2015 high. It has not closed above $70 since December 9, 2013, when it ended the session at $70.34.
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