Alan Brochstein, CFA
Contrarian, growth at reasonable price, management change, cannabis stocks

New CEO Says 'I'll Gladly Pay You Tuesday Morning'

Very few things capture my attention faster than an insider laying out cash for his or her stock. On 12/7, Brady Churches, the relatively new CEO at Tuesday Morning (NASDAQ:TUES), filed a form 4 indicating a purchase of 48,614 shares at $6 ($290K) over the prior two days. He had also bought 3800 shares at $5.90 in late November. This represents about six months of his salary and adds to a considerable position I will detail below. I have been meaning to look at this long-time underperformer that has come back to life this year given the involvement of a shareholder activist, which I will also describe below. For some perspective, here is the since-IPO price chart:

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