Diamonds and Dogs
David's Tea Inc. (DTEA)
Investors are drinking up David's Tea today with shares up 40.11% to $26.62. The tea and beverage company saw its shares rally on its IPO day. Today's the first day of trading for David's Tea and it appears that investors are intrigued by the company. Shares of David's tea began trading around 11am today, and had a nice rally, selloff, and trickle higher. Investors hit the buy button today and forced shares up $7.80 and clearly to a new 52-week high of $27.02 intraday.
Zumiez Inc. (ZUMZ)
Zumiez is getting crushed today, down 18.53% to $24.24. The clothing and accessory retailer saw its shares fall after disappointing earnings and lower second quarter guidance. The company said that it expects to an EPS of $0.12-0.15 on revenue of $179-183 million. Analysts' were forecasting an EPS of $0.30 per share on revenue of $192.8 million. Furthermore, an analyst of Roth Capital downgraded Zumiez to "Neutral" from "Buy" and lowered its price target to $29 from $36. Shares of Zumiez fell over $5.50 today to a new 52-wekk low of $23.82.
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