$DXLG - still a good entry point (longterm)
Updated
DXLG is actualy performing well during the covid-19 pandemic, but was hugely oversold over the last weeks. I expect a breakout between 15th/16th Juni, but this is just a prediction (It could happen earlier or later or the stock could fall again - so everything is possible). If you take a look an the weekly RSI, you will recognize, that this stock if undervalued (you can take a look on their earning report this month). I see this stock atleast around 0.80$+ next 1-2 month. Just look at the volume. From there, it will go even higher. Check this statement from the CEO (conference call) yesterday:
"And lastly, I want to give you an update on our wholesale business. The growth of our wholesale business continues to be a key initiative in fiscal 2020, led by our business with Amazon Essentials, which contributed $2 million of sales in the first quarter. This business, the Amazon Essentials program, was not immune to the impact of the virus and Amazon shifted to essential supplies and so did the customer in what they ordered."
"That being said, the business has also come back very strong in the past couple of weeks, demand has been the highest of all year, even pre-COVID levels. With our sourcing expertise and factory relations in place, we've also launched a new wholesale line of business in the design and sourcing of protective masks with sales beginning in the fiscal second quarter and already in the second quarter of fiscal 2020 we have received commitments to the sourcing and selling of masks to Fortune 100 companies, with nearly 2.5 million masks ordered so far." (https://seekingalpha.com/article/4352016-destination-xl-group-inc-dxlg-ceo-harvey-kanter-on-q1-2020-results-earnings-call-transcript?page=5)
"And lastly, I want to give you an update on our wholesale business. The growth of our wholesale business continues to be a key initiative in fiscal 2020, led by our business with Amazon Essentials, which contributed $2 million of sales in the first quarter. This business, the Amazon Essentials program, was not immune to the impact of the virus and Amazon shifted to essential supplies and so did the customer in what they ordered."
"That being said, the business has also come back very strong in the past couple of weeks, demand has been the highest of all year, even pre-COVID levels. With our sourcing expertise and factory relations in place, we've also launched a new wholesale line of business in the design and sourcing of protective masks with sales beginning in the fiscal second quarter and already in the second quarter of fiscal 2020 we have received commitments to the sourcing and selling of masks to Fortune 100 companies, with nearly 2.5 million masks ordered so far." (https://seekingalpha.com/article/4352016-destination-xl-group-inc-dxlg-ceo-harvey-kanter-on-q1-2020-results-earnings-call-transcript?page=5)
Note
today we hit 0.82$, i sold my position here, but there is still room to grow
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