Global Eagle Entertainment Inc. (NASDAQ:ENT) Moody’s Ratings Withdrawal

Global Eagle Entertainment Inc. (NASDAQ:ENT)

Shares of Global Eagle Entertainment Inc. (NASDAQ:ENT) fell 11.11%, after rating agency Moody’s withdrew the company’s ratings. The firm in a press release cited a lack of insufficient or otherwise inadequate information, needed to support the maintenance of ratings.

Global Eagle Entertainment Inc. (NASDAQ:ENT)

ENT Investors Reaction

Investors reacted to the news by pushing the stock to a new all-time low. Global Eagle Entertainment Inc. (NASDAQ:ENT) stock continues to trade in a strong downtrend and is down over 60%.

Declining investor confidence on the stock follows disappointing fourth quarter and full year financial results for FY2016. For the fourth quarter, Global Eagle Entertainment generated a net loss of (-$91.7) million. Net loss for the full year came in at (-$112.9) million.

EBITDA was up 24.9% in the fourth quarter to come in at $19.4 million. Global Eagle Entertainment attributes the increase to contributions from the EMC acquisition and growth in the Aviation connectivity business. However, it was partially offset by losses in the content services business.

Revenue Growth

Year-over-year revenue growth of 45.5% helped offset investor concerns about the wider than expected net loss. Global Eagle Entertainment Inc. (NASDAQ:ENT) posted revenue of $165 million for the fourth quarter. Full-year revenue was up 26.2% to come in at $538 million. Connectivity revenue was up 175% to come in at $88.4 million in the fourth quarter. Content revenue, on the other hand, dropped 5.8% to come in at $76.4 million.

Growth in revenue was mostly driven by the acquisition of Emerging Market Communications and continued growth of the Aviation Connectivity business. According to Chief Executive Officer, Jeff Leddy, 2017 has been a transition year for the company.

“2017 has been a year of transition for Global Eagle Entertainment Inc. (NASDAQ:ENT), and we are building a solid foundation to position our company for future growth. Importantly, we have strengthened key areas in our finance and other shared service functions and continue to integrate past acquisitions across our business lines,” said Mr. Leddy.

Global Eagle Entertainment Inc. (NASDAQ:ENT) is currently focused on strengthening its pool of talent which it expects to accelerate growth in the Content and Connectivity businesses. The company has also started to implement new software tools with a view to enhancing operations and improving the timeliness of financial reporting.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ENT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Iconix Brand Group Inc (NASDAQ:ICON),

Iconix Brand Group Inc (NASDAQ:ICON) Shares Crash on Wal-Mart Non-renewal

Iconix Brand Group Inc (NASDAQ:ICON)

Iconix Brand Group Inc (NASDAQ:ICON) stock is down over 60% in the last two days after it received notice that Wal-Mart has decided not to distribute the DanskinNow brand beyond January 2019. The market reacted harshly as observers believe the loss of royalty revenues, approximately $15.5 million, may negatively affect Iconix’s ability to service current debt and shrink it lending alternatives.

Iconix Brand Group Inc (NASDAQ:ICON)

Iconix Brand Group Inc (NASDAQ:ICON), headquartered in New York City, is a brand management company that owns, licenses, and markets a portfolio of consumer brands across the women’s, men’s, entertainment, and home industries globally.

John Haugh, CEO of Iconix commented, “Improving the balance sheet, enhancing our liquidity position, and more actively managing our brands continues to be our primary focus.  With our announcement today of Starter at Amazon, we are demonstrating our ability to successfully reposition our brands.  We expect this launch will return Starter to its iconic position of a leading premium athletic brand.  Our team will be pursuing similar strategies as we reposition and build our Mossimo and Danskin brands.  With respect to the balance sheet, we entered into an amendment of our existing credit facility and will be focused on generating funds in the near term to enhance our liquidity position.”

Other Iconix Developments

Today Iconix Brand Group Inc (NASDAQ:ICON) also announced that Starter, an Iconix premium athletic brand, is now available on Amazon Prime.  This new distribution agreement is on the hells of the third quarter 2017 announcement that Starter was no longer exclusive to Walmart.

On October 25, 2017, the United States District Court for the Southern District of New York dismissed the consolidated securities class action brought against Iconix Brand Group Inc (NASDAQ:ICON). In its opinion granting Iconix’s and other defendants’ Motion to Dismiss the matter, the Court provided plaintiffs leave to replead their claims by November 14, 2017.

ICON Stock Performance

ICON stock neared its all-time highs in mid-2014 when the shares were topping out near $45. Since then the shares have slid precipitously and were valued under $10 by early 2016. The recent lows under $2 mark not only 52-week low, but all-time lows. In the last week alone ICON stock has lost almost 70% of its value.

Accordingly, the Relative Strength Index figure is around 12. Experts believe that any value below 20 is usually a trigger for an “oversold” condition, however investors should note that this sell-off follows widely published news of future revenue and earnings losses.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ICON and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Real Goods Solar, Inc. (NASDAQ:RGSE)

Can Real Goods Solar, Inc. (NASDAQ:RGSE) Close over $2.50?

Real Goods Solar, Inc. (NASDAQ:RGSE)

Real Goods Solar, Inc. (NASDAQ:RGSE) stock is up almost 9% as the as the stock attempts, for the fifth time this month, to close over $2.50. Volume is heavy today – over 4.2 million shares have traded by 11 AM EST which is almost nine times the listed daily average.

Last Thursday, October 26, Real Goods Solar, Inc. (NASDAQ:RGSE) announced that it had been selected by Solarize North Haven, a community-based residential solar purchasing cooperative, to bring solar electricity to homes and businesses in North Haven, Connecticut.

Solarize North Haven is a community-supported buying program that offers discounted group pricing, town-wide education and outreach support, as well as high quality equipment at reduced pricing and flexible financing to significantly reduce the cost of solar for North Haven’s approximately 8,600 households. The campaign and sign-up period begins November 16, 2017 and will run through April 5, 2018.

History of DOW Chemical’s Involvement

In 2008, DOW Chemical started an R&D effort to produce shingles that could serve as a solar panel and be directly integrated into a roof. DOW’s first efforts were installed in over 1,000 locations in 18 states. Then, in 2015, DOW switched to a lower cost solar technology which, they believed, would be more commercially viable. The new technology also had the benefit of being more efficient.

DOW Chemical has patented the new technology and it is this technology that is being licensed by Real Goods Solar, Inc. (NASDAQ:RGSE). Real Goods Solar, Inc. (NASDAQ:RGSE) has agreed to absorb all commercial aspects of the deal including supply chain management, marketing, sales, installation and warranty. It is believed that sales will commence in the first half of 2018.

RGSE Stock Performance

Real Goods Solar, Inc. (NASDAQ:RGSE) shares, adjusted for dilution, have been battered over the past two years. In 2016 they were trading over $100 and spent much of 2016 with their shares valued at twice those levels. However, for the past few months the solar energy based company has struggled to keep its share value above $1 – typically the threshold for being listed on the NASDAQ Market.

The past year has seen RGSE stock hit a high of over $86, and a low of $0.60. Sales growth was impressive from 2012 through 2014 as the figure rose from $44 million to $70.8 million. Unfortunately the company posted a disappointing $17.4 million for 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RGSE and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Cenveo, Inc. (NASDAQ:CVO)

Cenveo, Inc. (NASDAQ:CVO) Comes Off Its Lows

Cenveo, Inc. (NASDAQ:CVO)

Nano-cap Cenveo, Inc. (NASDAQ:CVO) stock gained over 11% and ended the trading day at $1.40, on heavy volume, despite a lack of news that would normally account for such trading action. One possible explanation could be that investors believe the precipitous drop in CVO share prices has been overdone. In the last month, CVO stock has dropped almost 60% and the Relative Strength Index figure for the stock is under 20 – usually a trigger level for traders searching for stocks exhibiting “oversold” conditions.

Cenveo, Inc. (NASDAQ:CVO)

Stamford, CT-based Cenveo, Inc. (NASDAQ:CVO) provides printing services globally. The company generates revenues through three operating divisions: envelope, print, and label. The envelope segment offers direct mail products and transactional envelopes for billing and remittance. Clients include financial institutions, insurance companies, and telecommunications companies. Cenveo also provides specialty and stock envelopes for the retail and wholesale office product markets and superstores. Cenveo also provides print products comprising car brochures, annual reports, direct mail products, advertising literature, corporate identity materials, and brand marketing materials. Their label segment offers custom labels for a wide variety of consumer-oriented industries.

CVO Stock History

Cenveo, Inc. (NASDAQ:CVO) stock has a 52-week high of $8.50 which was hit in mid-2016. Through most of the remainder of 2016 CVO stock traded between $6 and $8. Then, in Q22017, the stock made several attempts to break above the $6 handle after dropping to $4. In mid-August the bottom appeared to drop out and while the stock market experienced a bull move, CVO stock only had two weeks of positive gains out of the last 16. For the year, shares of Cenveo, Inc. (NASDAQ:CVO) are down over 80%.

According to reports, Cenveo earnings have, in aggregate, gained over 50% but those same reports have given a forecast that shows negative earnings growth for the next five years. Sales have been flat for the past five years. In 2012, the company reported $1.74 Billion in sales and that number was $1.66 Billion for 2016. The positive news for investors is that 2016 saw the first per-share profit, $8.31, for CVO stock since 2012.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CVO and receive breaking news on other hot stocks by signing up for our free newsletter!

 

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Shineco Inc (NASDAQ:TYHT)

Can Shineco Inc (NASDAQ:TYHT) Sustain Trend?

Shineco Inc (NASDAQ:TYHT)

After three attempts in the last six weeks to close above $3.50, Shineco Inc (NASDAQ:TYHT) shares closed up over 30%, on heavy volume, and closed at $3.64. Investors flocked to the China-based producer foe heal and well-being products after the company announced its subsidiary, Tianjin Tajit E-Commerce Ltd., obtained contractual rights to distribute branded products of Daiso Industries Co. Ltd, a large franchise of 100-yen shops founded in Japan, via JD.com – the largest e-commerce company and retailer in China. Daiso Industries Co., Ltd. operates home center chains throughout the world.

Shineco Inc (NASDAQ:TYHT)

Shineco Deal

Shineco Inc (NASDAQ:TYHT) is now authorized to distribute Daiso’s branded products and use its brand names in connection with Tianjin Tajit E-Commerce Ltd in China. The allows Shineco to access JD’s massive online customer base for business development in China. JD will leverage Shineco’s business expertise, and Shineco will serve as JD’s authorized vendor for providing its customers with access to a wide range of products of Daiso.

Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco Inc (NASDAQ:TYHT), stated, “We are excited about teaming up with China’s e-commerce giant JD and Japan’s retail giant Daiso, and the potential market that new relationship can bring to our business. JD’s vast online retail channel will enable us to distribute Daiso’s products in a more efficient and economical manner to meet the growing consumer demand in China, which further drives the Company’s fast expansion in e-commerce, enhances the influence of the Company and builds up the brand awareness of Shineco.”

TYHT Stock Analysis

In mid-August, Shineco Inc (NASDAQ:TYHT) stock established a new 52-week low of $1.72. However, two weeks ago the stock began a strong uptrend and has closed higher every day since. Friday’s price action was remarkable. TYHT stock had closed on Thursday at $2.78, then gapped up on the news to open Friday’s session at $2.86 before hitting an inter-day high of $4.38. That upward move was accompanied by strong volumes that were over 64 times the listed 30-day, daily average.

Earnings per share, sales, and the number of outstanding shares have all been largely consistent over the past five years. One thing that does stand out is the fact that the stock has a float of only 13.87 million shares. That low float level could serve as a catalyst for any future moves, up or down, as traders seek to capitalize on the expanding Asian healthcare markets.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TYHT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Perion Network Ltd (NASDAQ:PERI) Extends Partnership with Microsoft

Perion Network Ltd (NASDAQ:PERI)

Perion Network Ltd (NASDAQ:PERI) shares fell 8.5% after the advertising solutions provider announced it is extending its relationship with search engine Bing. The new agreement, set to run through 2020, should allow the company expand its reach in the search engine ecosystem.

Perion Network Ltd (NASDAQ:PERI)

PERI Stock Performance

Thursday’s sell-off saw PERI stock register a new 52-week low of $0.94 a share as it continues to trade in a strong downtrend. For the year, Perion Network is down by more than 30% after it hit a high of $2.32 in February.

Thursday’s sell-off came as a surprise given that the Microsoft Corporation (NASDAQ:MSFT) agreement expected to grow Perion Network Ltd (NASDAQ:PERI) search business. The extension allows the company to continue providing its publishing partners and their consumers a leading search and monetization solutions.

“This enhanced agreement is designed to expand Perion’s reach into the search space, providing additional growth opportunities for us, and enabling us to continue providing comprehensive search solutions to new and existing publishers around the world,” said CEO Doron Gerstel.

Snapchat Partnership

In addition to the Microsoft agreement extension, Perion Network Ltd (NASDAQ:PERI)’s creative advertising division, Undertone, has been named as an official Snapchat Creative Partner. The selection underscores the unit’s ability to offer dynamic creativity on Snapchat’s platform.

Undertone specializes in helping recognizable brands deliver engaging digital experiences to drive business growth. The Perion Network Ltd (NASDAQ:PERI) unit has already partnered with the likes of Unify water and Niagara to help them deliver high impact creative ads.

“This partnership underlines our commitment to cross-platform creativity and helping brands connect with consumers however they consume content,” said Mike Pallad, President of Undertone.

Perion Financial Results

Separately, Perion Network Ltd (NASDAQ:PERI) will announce financial results for the three months ended September 30, 2017, on November 9, 2017. For the three months ended June 30, 2017, the company reported a net loss of (-$36) million or (-$0.46) cents a share. Revenues dropped 11% from $78 million to $69.7 million, primarily because of a 24% decline in search and other revenues.

Perion Network exited the quarter with cash and cash equivalent of $22.4 million compared to $4.3 million in the second quarter of 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $PERI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

MYOS RENS Technology Inc (NASDAQ:MYOS) Muscles Higher

MYOS RENS Technology Inc (NASDAQ:MYOS)

MYOS RENS Technology Inc (NASDAQ:MYOS) stock is up almost 20% with two hours remaining in the trading day. Shares benefitted from the announcement of a partnership with the owner of Fortetropin® in support of the NFL Alumni NY/NJ Chapter’s Optimal Bowl and Wellness Challenge.

MYOS RENS Technology Inc (NASDAQ:MYOS)

MYOS – NFL Alumni Partnership

The 90-day Wellness challenge will feature former NFL players and military veterans working together with world class medical specialists in a variety of activities designed to improve their individual health. Throughout the wellness challenge, the public will be able to follow challenge participants’ journeys to wellness through reality-based web TV documentary series and mass media initiatives that will include preventive health information and educate the public about wellness. This educational competition culminates with the showdown of health and wellness, the Optimal Bowl.

Joseph Mannello, Chief Executive Officer of MYOS RENS Technology Inc (NASDAQ:MYOS) stated “We are happy to be supporting the NFL Alumni in the Optimal Bowl and Wellness Challenge, to raise awareness about the importance of muscle health. It’s a proven fact that we start losing lean muscle with each decade of life, beginning at 30 years of age. Our partnership with the NFL Alumni fits perfectly within our mission of promoting the benefits of Fortetropin® in a regular exercise regimen, regardless of age or physical condition,”

MYOS Stock

MYOS RENS Technology Inc (NASDAQ:MYOS) is up over 25% year-to-date and up over 11% in just the last week. However, the stock is relatively flat over the past year as MYOS shares had spiked early in 2017 and remained above $3.50 for much of January and February. Since then, shares have been sliding.

Sales have been a shadow of what they used to be. In 2013 and 2014 sales were posted at $3.3 million each year. However the company reported sales of $200,000 for 2015 and $300,000 for 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MYOS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) Broadcasts Good News

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) stock doubled in value earlier today and is currently up over 80% on historically high volumes. The massive movement to the upside came after the media company released preliminary operating results to the public that beat Wall St expectations.

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS), headquartered in Atlanta, GA, owns and operates radio stations in the United States. The company operates under two brands, Radio Station Group and Westwood One. Revenues are generated through the sale of commercial advertising time to local, regional, and national advertisers as well as network advertising. Cumulus creates and broadcasts content through approximately 445 owned-and-operated stations in 90 United States media market. The company also has approximately 8,200 broadcast radio affiliates and various digital channels.

Quarterly Results

Cumulus Media Inc (NASDAQ:CMLS) will issue a press release reporting its third quarter 2017 operating results at approximately 7:30 AM EST on Thursday, November 9th. However, the company expects to report net revenue in a range of $286.0 million to $288.0 million, net (loss) income in a range of $(0.3) million to $1.7 million, and Adjusted EBITDA in a range of $60.0 million to $62.0 million.

Mary Berner, President and Chief Executive Officer of Cumulus Media Inc (NASDAQ:CMLS), said, “The strong preliminary results for the third quarter provide further evidence that our turnaround plan is taking hold. We are encouraged by our continuing operating and financial momentum in the face of negative industry trends.”

Ms. Berner followed that positive statement with a more cautious tone when she stated “While the Company has ample cash to operate our business, Cumulus continues to be constrained by an excessive debt load. With the assistance of outside advisors, we are proactively exploring a range of alternatives with our lenders and noteholders to restructure the balance sheet and reduce debt.”

CMLS Shares

Cumulus Media Inc (NASDAQ:CMLS) shares have been under pressure this year having lost over 80% of their value. While today’s preliminary numbers have been well received, cautious investors note that sales have been relatively flat. In 2014 the company posted sales of $1.26 Billion, followed by $1.17 Billion for 2015, and in 2016 the company posted $1.14 Billion in sales.

Shareholder losses have been substantial as well. In 2015 the per share loss was (-$18.37). That loss marginally improved in 2016 when the company lost (-$17.45) per share. The lone firm that covers CMLS shares rates them as a “Hold”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CMLS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Rennova Health Inc (OTCMKTS:RNVA)

Dive Continues for Rennova Health Inc (OTCMKTS:RNVA)

Rennova Health Inc (OTCMKTS:RNVA)

Shares of West Palm Beach, FL-based Rennova Health Inc (OTCMKTS:RNVA) continue to open down every day, then trade in a narrow daily range. Today RNVA shares lost over 32% to end the day at $0.40 on heavy volume.

 

In early September, shares of RNVA were still trading around $4, then a slide started. Shareholders have experienced just five days of gains since then. The shares are down over 99% for the year and a whopping 67% for the week.

On October 19, 2017, Rennova Health Inc (OTCMKTS:RNVA) announced that Big South Fork Medical Center was found to be in compliance with the requirements of the NIAHO Hospital Accreditation Program, and has been awarded full accreditation for a three year term effective as of October 11, 2017. Despite the news, and rather remarkably, RNVA shares dropped almost 20% the day this news was released to the market.

Interestingly, the last day the shares experienced a daily gain was after the CEO, Seamus Lagan, issued a letter to the shareholders stating that “… as part of our plan to regain compliance with NASDAQ’s stockholders’ equity continued-listing requirement, in the near future Rennova intends to spin-off to its stockholders our genetic testing division, Advanced Molecular Services Group, Inc. (AMSG), and our IT and Software division, Health Technology Solutions, Inc. (HTS).” That division had received over $20 million in investments from the company and, as of today, the entire worth of Rennova Health Inc (OTCMKTS:RNVA) is less than $700,000.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RNVA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Bon-Ton Stores Inc (NASDAQ:BONT)

Bon-Ton Stores Inc (NASDAQ:BONT) Guns Higher on New Financing

Bon-Ton Stores Inc (NASDAQ:BONT)

Shares of Bon-Ton Stores Inc (NASDAQ:BONT) have spiked up over 80% in trading after the company announced that it has amended its $880 million credit facilities which should provide the retailer with immediate flexibility and additional liquidity. Observers believe the amended credit facility was a requirement for the company to be able to increase inventories in expectation of the Christmas sales season.

Bon-Ton Stores Inc (NASDAQ:BONT)

Nancy Walsh, Bon-Ton Stores Inc (NASDAQ:BONT)’s Executive Vice President and Chief Financial Officer, commented, “We are pleased with this amendment which immediately provides us with additional liquidity cushion and strengthens our financial flexibility through the holiday season. We appreciate the ongoing support of our bank group as our team continues to execute key operational and financial initiatives focused on positioning the business for both near- and long-term profitable growth.”

Company Performance

Sales have been on the decline for Bon-Ton Stores Inc (NASDAQ:BONT). While not dramatic, the decrease in sales has been steady. In 2013 the company reported $2.98 billion in sales. That sales performance was followed, yearly, by $2.83, $2.82, $2.79, and $2.67 billion for FY2017. The last five years have also seen per share losses for BONT shareholders. The last two years were the largest, (-$2.90) in 2016, and (-$3.18) for FY2017.

BONT Stock Review

The York, PA-based retailer announced the deal yesterday with less than an hour left in trading. Within 30 minutes BONT stock jumped from $0.33 to over $0.70. Then this morning the stock gapped up to open at $0.80 before hitting an inter-day high of $1.19. BONT stock volume is extraordinarily heavy. Over 37.8 million shares have traded hands on a stock that normally sees barely more than 500,000 shares traded daily.

Still, Bon-Ton Stores Inc (NASDAQ:BONT) shareholders have had a rough year as the shares have lost over 60% of their value prior to today’s price action. BONT stock still has further to travel if it is to challenge the existing 52-week high of $1.98 which was hit last November. The sudden spike has impacted the stock’s Relative Strength Index which is standing above 85 – a figure well inside the “overbought” area of the indicator.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BONT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.