For the first time since last August, shares of American Apparel Inc. (NYSE: AAP) have closed a trading day at $1/share. The clothing retailer has been under SEC scrutiny since May, but the investigation was recently closed and no charges were brought against the company.
American Apparel was one of our 10 Stocks Unlikely to Survive 2012, and it’s not out of the woods yet. The company has $8 million in cash and $91 million in long-term debt. Operating cash flow is negative in each of the last four quarters. But getting the SEC out of its hair with no more damage can’t help but raise shareholders hopes.
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