On June 5, 2015, Rev. Father Emmanuel Lemelson, Founder and President of The Lantern Foundationand Chief Investment Officer of Lemelson Capital Management, appeared on Benzinga's Pre-Market Prep show to discuss The Greek Debt Crisis, Apple (NASDAQ: AAPL), Geospace Technologies (NASDAQ: GEOS), new short positions in shares of Skechers (NASDAQ: SKX) and Ligand Pharmaceuticals (NASDAQ: LGND), and other positions held by Lemelson Capital's top-performing Amvona Fund.
On November 29th, 2011 Amvona published the article “Why we’re still buying Skechers stock”. The article indicated that shares in the company had been purchased for investor accounts between $11.86 and $12.77 per share.
Here were a few of the reasons for the purchase outlined at the time:
SKX fell almost 8 percent on Tuesday after an analyst said it may have overestimated demand for its toning shoes. He downgraded the stock to "Sell." From Bloomberg:
“Sterne Agee analyst Sam Poser said Skechers has more toning shoes inventory than it can sell as sales of the specialty shoes slow. Poser said he has seen the shoes at discounters Ross Stores Inc., TJX stores, which include T.J. Maxx and Marshall's, and Costco, selling for $39 to $52.99. That puts pressure on Skechers partners like Famous Footwear, where the shoes sell for $59.99, Poser said.”