BYRN - Buying More Byrna Even After Its Big Rally
2024-02-22 15:50:17 ET
Summary
- Byrna Technologies' shares have increased by 119.5% in the past three months, outperforming the S&P 500.
- The company's recent earnings report was well-received by the market, indicating positive investor sentiment.
- Byrna is experiencing growth in international sales, increasing production capacity, and has overcome significant challenges in 2023.
It’s been about three months since I wrote my bullish piece on Byrna Technologies Inc. ( BYRN ), and in that time, the shares are up about 119.5% against a gain of about 9.3% for the S&P 500. For those of you who took my advice and bought this name back then, you’re welcome. I’ll send you my Christmas wish list, because it’s never too early. Anyway, the company has recently announced earnings, and I think it’s fair to suggest that the market liked what it saw. Anyway, there’s a very obvious positive relationship between price and risk, so the higher the price, the higher the risk of the investment. Put another way, this might be a great investment at $5.50, but it may be time to take chips off the table at $12.05. I’ll decide whether or not to buy more, hold, or take my chips off the table by reviewing the financials, and going through some of the highlights of the recent earnings call. I also want to write briefly about the two significant challenges the company overcame in 2023.. Finally, I’ve covered the growth story, the so-called “tailwinds” here extensively in previous articles, so if you’re truly interested in such things, I’d recommend my earlier work on Byrna . ...
Buying More Byrna Even After Its Big Rally