Money Investor
Long/short equity

hhgregg: Gravity Will Return After A 175% Run Over The Last 6 Months

hhgregg (NYSE:HGG) is a consumers electronics and appliance retailer that has seen an extraordinary turn of fortunes, in terms of its stock price, over the last six months. This company is a great example of the irrational exuberance that can be found anywhere in the market today. Nothing has fundamentally changed for the outlook of this company, or bricks and mortar retailers focused on consumer electronics in general. Yet after hitting a 52-week low of under $6 a share in late October 2012, the stock has been on a meteoric run over the last six months, coming just shy of touching $16 a share so far in May 2013. During that time, the company has provided an earnings...

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