Trade of the Day: Buy the Bounce in Signet Jewelers (SIG) Stock

At first glance, diamond jewelry retailer Signet Jewelers (NYSE:SIG) seems like a money pit. On Wednesday, SIG stock suffered a devastating drop of more than 12%. While the company posted an earnings beat, investors didn’t respond well to its disappointing guidance. Still, the broader fundamentals are positive, suggesting that at least a dead-cat bounce is in order.Signet reported adjusted earnings per share of $6.73 for its fiscal fourth quarter. This print beat the consensus target of$6.37. On the other ...