PLAB - Photronics: Staying Long Near The Highs
The biggest risk from the long side when it comes to Photronics (PLAB) is that we've been here before. PLAB shares gained 20.6% in three sessions after releasing fiscal Q3 earnings on Wednesday morning. Friday's close of $10.80 was a 15-month high, before a very modest pullback this week.
But PLAB shares gained 11.8% after fiscal Q4 earnings last November, touching a 6-month high just above $10.50 in the process. By early February, the stock was near $7. In May, the stock spiked after a fiscal Q2 report I thought was strong and