Heelys - Fad stock already out of fashion?

Heelys (HLYS) makes shoes with wheels in heel. Lean back and you can start to roll. Unfortunately, the stock hasn't been on a roll.

The stock IPO'd in late 2006 and shares started trading above $30. After reaching $40 per share the stock has recently fallen to $22. Other "shoe fad" stocks have performed phenomenally over the same time period. Crocs (CROX) moved from the $20's to the $50's. Deckers (DECK), maker of UGG Boots, moved from $60 to over $100.

Heelys has a similar phenomenal growth story as its "shoe fad" peers, with revenue which tripled over last year and profits which quintupled. So where does Heelys differ?

Heelys insiders recently attempted to sell 8 million shares (the offering was later withdrawn). The company receives negative press, recently cited as causing 1,600 injuries, mostly for children who use their wheeled shoes. The company is utterly dependent on the same wheeled shoes for 98% of revenues. Their product is aimed mainly towards children, probably more fickle than the target demographic of Crocs or UGG Boots.