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The positive impact of communications with the investment community on stock prices was demonstrated by recent movements in certain RV companies’ shares.
One example is Thor Industries Inc. which, along with several other RV builders, was the subject of a feature appearing on financial markets website Bloomberg.com on Sunday, April 21.
The headline on the Bloomberg.com piece was “Recreational Vehicle Sales Rebound Ahead of Economic Recovery,” and it included a quote from Thor Chairman and CEO Wade Thompson saying, “Things are better and I don’t see any impediment on the horizon right now.”
The next day, Monday, April 22, Thor stock climbed above $60 a share for the first time. Since then, Thor stock has traded most of the time in the $59 to $62 a share range.
On Thursday (May 2), Thor stock flirted with the $62 a share mark, its current 52-week high. Thor stock climbed as high as $61.98 before closing at $61.28.
Also on Thursday, Thor reported it had record sales during its third fiscal quarter, which ended Tuesday (April 30), and that its RV dealer order backlog as of Tuesday was 43% larger than it was a year-ago.
Meanwhile, today (May 3), the government reported that the unemployment rate climbed to 6% in April, its highest level in 7 1/2 years. That may explain why Thor stock closed $1.31 a share lower today in New York Stock Exchange trading at $59.97.
However, the unemployment report did not hurt the stock price of Coachmen Industries Inc., at least today. Coachmen shares gained 51 cents today to close at $19.19, within striking distance of its 52-week high of $19.50.
Coachmen revealed, after the stock market closed Thursday, that it lost $600,000 during the first quarter, but Chairman, President and CEO Claire Skinner also reported that Coachmen will achieve “a strong rebound in profitability” this year.
Skinner reminded stock analysts Thursday that the $600,000 first quarter loss was in line with what she forecasted, and she added that she believes Coachmen will earn around 75 cents for the full year 2002.