Dive Brief:
After Express stock price nearly quadrupled from Friday to Monday, analysts at Wedbush threw cold water on the fervor in an emailed research note that said the company is hemorrhaging cash.
The analysts, led by Jen Redding, stated Express has burned through $134.5 million as the pandemic drives demand for more casual work-at-home apparel, hitting gross margin and comp at the traditionally dressier apparel retailer particularly hard.
Earlier this month, the brand and retailer boosted its liquidity through a $140 million term loan led by private equity firm Sycamore Partners, which owns a handful of apparel retailers including Belk, Talbots and Hot Topic.
Milwaukee company caught in global financial battle. By Jeramey Jannene - Jan 27th, 2021 11:15 am //end headline wrapper ?>Koss Corporation headphones. (Pixabay License).
A Milwaukee-based headphone maker is caught in the middle of a Wall Street war between pessimistic hedge funds and aggressive retail traders.
Koss Corporation‘s stock closed trading Friday at $3.54 per share, valuing the company at approximately $20 million. It’s a value in line with where the company has been for the past five years.
As of mid-day Tuesday it’s at $41.67 and gone as high as $43, valuing the company at over $300 million. It’s never been higher.
Source: SiljeAO / Shutterstock.com
AMC Entertainment Holdings (NYSE:
AMC) as prime fodder for the Reddit group’s focus, with each stock showing short interest above 35% and then priced under $10 a share. Meade’s Twitter profile shows he “founded $1BN hedge fund.”
KOSS stock gained 79.6% yesterday and was up about the same as of 7:30 Eastern this morning. Volume on Monday was almost 19 times the daily average and gave the maker of headphones a market capitalization of $44.4 million.
Koss has been making headphones and speakers for audiophiles since the late 1950s. I own several pairs, having first purchased old-school, over-the-ears back in the mid-70’s. Steely Dan’s “Can’t Buy A Thrill” never sounded so good.