The Company is a specialty retailer of home appliances and consumer electronics. It sells home appliances, consumer electronics, home office equipment, lawn and garden products, mattresses and furniture.
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Conn's Inc has been having some steep share price cycles. Weak margins. Keeps spiking after earnings and fooling the shorts. Heavy short position that is getting forced to cover. (Silly shorts). Timing a downthumb is tough with the low volume, but high short position. Overall, while they are holding market share, the market share of home appliances, consumer electronics (I.E. Big screen TV's), furniture and mattresses are under attack from either changing trends or the recession. Low float, high shorts, trading near book, weak margins. Decent cash flow and a great job of paying down debt.
I'm playing this one mostly for a decline of the 100% gain since early September. 30-50% spikes on this one have not been unusual the past six months, but fundamentally are likely to continue retracing.
Short term call. Target around $8 or maybe a little more. Low float and insider holding makes this one fickle. Texas, Lousiana, and Oklahoma may have some repeat customers after disasters, but the lawn and garden products division are looking for a brusing if the Texas drought continues.