Borders (BGP) Continues Its Run
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In one month, Borders (NYSE: BGP) has risen over 240% to $3.12. Many thought Borders was done and going to file bankruptcy back when the stock was trading at $0.34 a share, but investors' short-term memory has helped ignite this stock to levels not seen since '08.
Earlier this year, Bill Ackman installed his hand-picked board, including a new CEO that has focused on cutting costs and spiking revenue at Borders Stores and its Borders online website.
However, Borders does have a questionable business model with the advent of Amazon's (Nasdaq: AMZN) Kindle book reader and more people buying books and online.
BGP is definitely a risky stock, but one worth watching with the recent support it has received from investors.
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Borders Group, Inc., through its subsidiaries, operates book, music and movie superstores, and mall-based bookstores.
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