American Apparel (AMEX: APP) has been getting hammered in the market over the last 4 weeks. After debuting around $15/share in December, American Apparel promptly fell to $11 not more than forty days later (24th of January). It rebounded north of $13.20 by February 5th, and has sold off since, closing at $10.95/share today.
Some of the selloff is due to general macroeonomic concerns including a retail spending slowdown, but there's something else driving the negativity on APP: CEO Dov Charney is in the middle of a potentially damaging lawsuit. Charney has recently won an appeal, and the case is back in arbitration, which could delay settlement for up to a year.
American Apparel has fallen more than double that of the S&P Retail ETF since its listing in December.
What do you guys think of American Apparel right now?
Monday, March 10, 2008
American Apparel Trading At 52-Week Low
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4 comments:
Buffet might not have a problem with the company. I believe mr. buffet once said that investors should buy companies that they would be willing to hold if the exchange closed.
In the case of AAP it appears that their common shares will be delisted from the American Stock Exchange on the 17th of this month.
disregard my first post, they are calling warrants on common shares not beling delisted. thats libel
I think on the 17th they're releasing their full year 2007 annual report and restated Q4 numbers, at least that's my understanding.
that sounds right, i saw something about reporting dates somewhere. are there any particular financial statement figures that you will be watching for specifically?
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