Quiksilver, Inc. (ZQK) Falls 40%, In Win For Kerrisdale

Kerrisdale Capital is collecting some serious profits on its short call on Quiksilver, Inc. (NYSE:ZQK). The stock dove over 30% yesterday after the sports gear and clothing company released lower-than-expected earnings for 2Q2014 and much weaker guidance for FY2014 than anticipated. You can read Kerrisdale’s latest thesis on Cardtronics, Inc. (NASDAQ:CATM). Kerrisdale said Quiksilver is going out of fashion Sahm Adrangi of Kerrisdale expressed negative views on Quiksilver in early May while he was speaking at a conference. His short was primarily based on the thesis that Quiksilver’s products are going out of fashion. While speaking at the Sohn Investment Conference in…