Crocs, Inc. (CROX-NASDAQ) announced that it has entered into a creative licensing agreement with Nickelodeon. So the shoe-fad is partnering with one of the top entertainment brand for kids. This partnership will introduce an exclusive, limited edition line of footwear incorporating the popular Dora the Explorer and SpongeBob SquarePants characters available at select U.S. retail locations in summer 2007.
This doesn’t look as big as the Disney deal, this is a true cult stock. It hasn’t seemed to matter that the ugliest shoes turned out to be the hottest stock. Shares are up 0.6% at $52.09 in after-hours after closing up 2.8% today. The 52-week high is $53.00. As of january’s short interest, 11.9+ million, about 48% of the float, was the listed short interest.
Short selling fads usually ends up being correct, but that doesn’t mean that many short sellers don’t implode before they are proven right.
Jon C. Ogg
Febrauary 1, 2007
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