Consumer Electronics
Interest in Circuit City Driving Shares (CC, SHLD)
Published:
Last Updated:
Circuit City (NYSE:CC) is actually seeing its shares trade higher today. This isn’t on the consumer rebirth, and it isn’t on the company turning itself around. Today, Barron’s is reporting on its "Tech Trader Daily" that there are rumors that famed investor and fund manager Eddie Lampert is interested in acquiring the company.
Does this mean Sears Holdings (NASDAQ:SHLD) would buy it, or is it just Eddie and backers? We can’t say and frankly we don’t want to speculate on the odds of which is or isn’t true. We have looked at this quite frequently for a BAIT SHOP pick as a potential takeover candidate (now our "Special Situation Investing Newsletter") but we have never been able to make the case for the value. Since the company shot itself in the foot it now even potentially has a severe relevance issue (24/7’s view).
If anyone could add or find value in this electronics retailer it would be Lampert. But there are certainly better fishing spots out there.
Jon C. Ogg
October 3, 2007
Jon Ogg produces the 24/7 Wall St. SPECIAL SITUATION INVESTING NEWSLETTER; he does not own securities in the companies he covers.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
