Tuesday, December 22, 2009
PetMed Express Inc.
Yesterday we purchased 415 shares of PetMed Express Inc. (ticker symbol: PETS) at $18.09 per share for $7,507.35, less commissions. We will look to purchase more shares in the event the stock declines over the next few months. Please check back for a full write up of this investment.
Subscribe to:
Post Comments (Atom)
3 comments:
This seems bit expensive for you guys. Would be curious to see your rationale for PETS. By the way, do you guys manage a real money account or a model portfolio? Thanks again, I enjoy reading your blog.
Thanks for the comment Roman. As we'll try to articulate in our full post, we believe Pets is a terrific business with some real tail winds behind it, priced at a very reasonable valuation. You're right though, it certainly isn't a "cigarette butt" type stock trading at some silly multiple of earnings or below net cash (see our NPD post).
As far as a real money account, we both personally hold the stocks we write about in separate accounts. We thought this blog would be a great exercise in money management. Unfortunately, each of us has day jobs now which prevent us from devoting full time to investments (one is a CPA expert witness, the other a corporate attorney). Perhaps one day.
Thanks very much for your comment, please tell your friends about the blog.
I like your blog too! And our investment club is deciding on whether to make a purchase of PETS at this time. Thanks for summing up your analysis, this will help us in making our decision.
Post a Comment