Firstly let me give you the link to the article I am talking about here. I also took a screen-shot of it in case they take down the page.
Firstly, the article states that shares of Lulu were trading at $94 on March 30.
This is just flatly wrong. Whether we're talking about the shares that trade in Canada ($LLL) or the shares traded here in the US ($LULU), shares of lulu have NEVER traded above $90 on a closing basis. They have made an intra-day high of $90.96 but this is still $3 away from where the article says they were trading (are we even talking about the same stock?). Also Cramer didn't feature Lulu on his show on the 30th. His latest piece on Lulu was on the 25th. You can see it here.
Then the article says that the company reported earnings on March 26 and that the shares rose 15% on that day!
Not only did lulu NOT report earnings on the 26th (which was a Saturday), the shares also traded lower on the earnings release! They reported on the 17th. I know this first-hand because I owned some March call options on LULU that ended up expiring worthless because of the drop & OPEX the very next day. Lulu's latest big one-day gain (which caused me to have a Yogasm) occurred on March 28th, when Lulu announced a 2-for-1 stock split, posting an 8.4% gain on the day, not 15% (I wish).
The lesson to be learned here is this: Always do your own research from reliable sources. If sloppy, lazy reporting like this can get on a reputable website like Yahoo Finance, imagine how wrong and inaccurate information could be at other lesser known websites.
