Tuesday, June 12, 2007

Conns Inc (CONN)

It looks like this company is in the same type of business as Best Buy and Circuit City, see the full description below.

There are some huge bets against this stock and if the stock can clear 28.50 I think I'll buy some with a stop near 27.75. It looks like at least 3.5 million shares of the shorted stock are under water and if the momentum turns back up it could get ugly for the shorts.

Conn's, Inc. is a specialty retailer of home appliances and consumer electronics. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and liquid crystal display flat panel televisions, camcorders, digital cameras and home theater products. Conn's also sells home office equipment, lawn and garden equipment, mattresses and furniture, and it continues to introduce additional product categories for the home and for consumer entertainment, such as Moving Picture Expert Group layer-three players. Conn's offers over 2,500 product items at good-better-best price points representing such brands as General Electric, Whirlpool, Frigidaire, Maytag, LG, Mitsubishi, Samsung, Sony, Toshiba, Hitachi, Apple, Serta, Ashley, Lane, Hewlett Packard, Compaq, Poulan, Husqvarna and Toro. As of January 31, 2007, the Company operated 62 retail and clearance stores located in Texas and Louisiana.