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Barron's Says Get Out Of RadioShack (RSH)
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This weekend's Trader column in Barron's, had a negative piece on RadioShack Corporation (NYSE: RSH). After falling from grace, RadioShack's shares have surged over 50%, but Barron's says stay away from this dead cat bounce.
Although, RadioShack had a 6.9% rebound in same-store sales which help beat Q2 estimates, it remains to be seen if selling digital converter boxes during the tax-rebate season will translate into long-term growth for the company.
Some short covering in RSH helped boost shares after RadioShack announced a plan to buy back $200 million of shares. Additionally, there was some speculation that RadioShack would get to sell Apple's (Nasdaq: AAPL) popular iPhone, but after the Best Buy (NYSE: BBY) deal was announced, that put a damper on that rumor.
Barron's says unless consumers line up in droves to buy computers and stereos at RadioShack, then this stock is likely to fall from its recent move up.
RadioShack Corporation (RadioShack) is primarily engaged in the retail sale of consumer electronics goods and services through its RadioShack store chain and non-RadioShack branded kiosk operations.
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radioshack
terry on Aug 29, 2008 12:54 PMYou should contact Radioshack franchise stores and see how bad it really is. They leave the dealer no money to be made. They are loosing franchises daily. They are the Titanic in retail.