The Warehouse Group Ltd [WHS.NZX] share price has been hammered over the last 6 weeks. From a high of nearly $4.05 back in late November closing down today on low volume at $3.52.
The stock has been a victim of constant media attention on Christmas shopping figures and official retail sales releases over the last few weeks. Pumpkin Patch Group Ltd [PPL.NZX], Hallenstein Glasson Holdings Ltd [HLG.NZX] and other retailers have been similarly affected.
To be sure the WHS Christmas shopping fortunes for the first half of the 2011 financial year are very important to the bottomline but there is only anecdotal news at the moment that they are being hit hard.
For the share price to be hit by around 12% in six weeks seems a little overdone and I will be watching for further weakness for an opportunity to buy more shares for as little as possible.
Disclosure: I own WHS shares in the Share Investor Portfolio
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