NEW YORK (TheStreet) -- It's a rare that I get interested in a growth stock.
Call it a shortcoming or perhaps an investment philosophy character flaw, but I'm just not wired to be a growth investor. During the tech boom, I was buying boring and cheap companies, while many of my colleagues were into the latest highflyers. They were making money, too; at least while it lasted. But the bottom line is that I'm just a value guy at heart, and that is unlikely to change.
Occasionally, however, I'll take a position in a former growth company that has gone to the "dark side," as growth investors begin to give up and formerly high multiples become more compelling. It happened with eBay (EBAY) a few years ago and more recently with Corning (GLW), which I still own.
One company that is starting to look interesting is retailer Five Below (FIVE - Get Report). Now, this is no eBay or Corning, for sure. Somewhat new to the scene having gone public in July 2012, it's not exactly cheap.But for a company with a great retail concept that is also in its infancy, it appears as though the growth crowd has turned on it, at least for now. Shares are down 36% since mid-November, with much of that damage done due to lowered company outlook for its fiscal fourth quarter. FIVE data by YCharts
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