Buy low, sell high, right?
Quiksilver has had a rough go of things in the past few years. Surf companies in general fell into a slump–back in 2013, in fact, Billabong went so far as to announce themselves worthless.
But Quik has bounced back. On January 8th, Quiksilver, Inc. reached a market cap (a fancy way of saying how much a company is worth) of nearly $382 million dollars. The clothing and accessory giant was one of the biggest gainers on the Russell 2000 last week, popping 6.31%, a gain of $0.13 per share–which may not sound like all that much, but when the total float is 174.06 million… well, it’s a lot. On January 8th alone, just over 2 million shares switched hands.
This could mark a turn-around for the company that found itself in deeper waters than it wanted to a few years back. Quiksilver is based out of Huntington Beach, CA, and has around 6,000 employees.
