Sharper Image
I recently bought Sharper Image (SHRP) at $4.04
per share, mostly because it looked like the panic selling (rumors of a $900
million lawsuit and bankruptcy) was
overdone.
Now, a week later, it's up 40%. Why? Near as I can tell, the only news is that they took out a $20 million loan.
For me, taking out loans is not generally good news. I guess it's better news than needing money and not being able to take out a loan, but wouldn't it be better to make a profit? I rarely sell a stock so quickly after buying it, but this may be one of those times.
Now, a week later, it's up 40%. Why? Near as I can tell, the only news is that they took out a $20 million loan.
For me, taking out loans is not generally good news. I guess it's better news than needing money and not being able to take out a loan, but wouldn't it be better to make a profit? I rarely sell a stock so quickly after buying it, but this may be one of those times.
Filed Fri - August 24, 2007, 08:17 AM in
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Published On: Aug 24, 2007 08:17 AM
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Published On: Aug 24, 2007 08:17 AM
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