MOV - Movado: Setting The Clock For An Entry Point
Just two weeks ago, I looked at the prospects for Movado (MOV) in an article named: watching the millennials. I wrote the article as the company was announcing a second acquisition, aimed at targeting the millennials. This strategic rationale, expected accretion and reasonable sales multiples made me constructive on the actions taken by management. At the same time, I recognised that quite a bit of good news had been priced in already following a 70% year to date run in 2018.
Shares have retreated quite a bit from levels close to $50 at