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David Pinsen
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I founded Launching Innovation, LLC, to bring together developers, designers, and academic finance experts to create easy-to-use tools to solve complex problems for investors.
My company:
Portfolio Armor
My blog:
Steam Catapult
  • A&P operator goes bankrupt, as predicted by its Altman Z”-Score 0 comments
    Dec 14, 2010 2:18 PM | about stocks: GAP
    The Great Atlantic & Pacific Tea Company (NYSE: GAP, prior to its suspension yesterday), operator of the A&P and Pathmark supermarket chains, announced on Sunday that it had filed for Chapter 11 bankruptcy protection. A few weeks ago, GAP had come up on my radar screen as a short candidate for a grocery store market neutral trade, due to its Altman Z”-Score of about -4 (recall that scores below 1.1 indicate risk of bankruptcy). I passed on it at the time, because its share price was below $5, and the brokerage I’m currently using for these trades doesn’t allow shorting of stocks with share prices below $5.
    Stocks: GAP
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