NAV - Navistar: Sell-Off Despite Strong Earnings
In June of this year, I wrote an article about a fundamentally backed buying opportunity for Navistar (NAV). The stock price quickly added 10% before peaking in the first week of July. Since then, the stock has lost 13% which is entirely due to the post earnings sell-off. That said, the company reported tremendous third-quarter earnings. Not only did the company beat EPS expectations again, we also got another guidance improvement. I believe that investors are selling the company because they are positioning themselves for a growth slowing trend. Everything else does