On January 6, Goldman put out a conviction sell on GRMN when it was 20. I highlighted that piece here. On April 30, with GRMN at 25, Goldman raised it to a sell, with a target of 15.
Yesterday, it finally broke out of the channel it has been trading in. GRMN doesn't report earnings until August. The stock is still a sell by most firms; two weeks ago the NY Times said that the iPhone compass will displace GRMN, and that it will soon go the way of the tape deck.
So why then, is the stock on the cusp of a breakout?
Maybe because the NY Times can't read the tape!
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