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Wabash National: Terrible News, But I Added To My Position
October 16, 2018
- Wabash National released preliminary Q3 2018 results that were not well-received by the market. The bad news caused the stock to drop by almost 20%.
- It is hard to find things to like about Wabash today (with the exception of valuation, in my opinion), but I believe that the company's long-term story is still intact.
- I am long Wabash and I added to my position on the pullback.
Wabash National ($WNC) was in the news late last week when the company released preliminary Q3 results and management updated their full-year 2018 guidance. It would be an understatement to say that the news was not well-received by the market, as shown by the almost 20% drop for the stock.
While it may be a bumpy ride for shareholders over the next 12 months, I believe that Wabash National is worthy of investment dollars, especially at the current levels (below $14 per share).