Vince Martin
Long/short equity, value, gambling

Hooker Furniture Looks Interesting

Well, that ended quickly: (click to enlarge) source: finviz.com The chart reflects the near-term story at Hooker Furniture (NASDAQ:HOFT). Shares had traded in a reasonably tight range, with support around $24, after a nice early 2015 run out of the high teens - but a choppy macro environment and broad market sentiment seemed to keep a lid on any sustainable gains. On January 6, Hooker, which long had targeted an acquisition, announced that it was purchasing privately held Home Meridian International for about $100 million. Investors loved the deal, and bid shares up; after market sentiment brightened in late February, the run continued to $36, which appears to be an all-time high. An unusual against-the-grain downgrade from BB&T ...
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