Golf Galaxy (Nasdaq:GGXY) pulls its registration for a follow up offering to issue more common shares and allow certain holders/insiders to sell out and or liquidate.
The stock price has dropped since the offer was made May 3. Money talks and BS walks.
Is Golf Galaxy in the sand trap or was it just a bad hole that should be forgotten. The gallery will be closely scrutinizing this one as it seems weak. Now management needs to pull something off that gets the shareholders excited again.
GGXY 1-yr chart: