Crocs Stock Has Doubled Since June -- Is It Too Late to Buy?
Shoemaker Crocs (NASDAQ: CROX) started selling its foam clogs in the U.S. in 2002. But even after 20 years in business, this brand is still in growth mode. Consider that in 2018, the company generated almost $1.1 billion in revenue. Just five years later, it's on pace for about $3.5 billion for 2022.
With its latest quarterly financial report, Crocs management raised its guidance for investors. The business outlook is bright, which is why I don't believe it's too late to buy the company's stock.
Crocs stock fell almost 75% from late 2021 to June 2022 as investors fretted over inflation, consumer spending, and the stock's valuation. However, the company put some concerns to rest when it reported quarterly financial results in August and again in November. Crocs stock has consequently doubled from the June lows.
Source Fool.com
