The coverage ratio in Sharper Image for shares held short it 37 days. In December, shares short totalled over 3 million and the stock trades an average of under 82,000 shares a day.
The Nasdaq has warned Sharper Image that it is outside of listing requirements, again. The stock was near $20 two years ago. It now trades just above $9.
Sharper Image same-store sales dropped 27% in November added to a long list of sharply down year-over-year comparisons. Sales for the ten months ending November 30 dropped 22% to $359 million.
It is hard to imagine things getting worse, but it seems that the smart money thinks it will.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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