Irrational Overreaction In Ironclad Performance Wear Shares Creates Compelling Buying Opportunity
- Shares of Ironclad Performance Wear plummeted from $0.37 on August 28, 2014, to $0.25 on September 12 when news spread that the CEO and CFO were named in a lawsuit.
- The lawsuit’s allegations are unrelated to Ironclad and center around contract disputes arising out of the acquisition of Walls Industries by Williamson-Dickie, who is historically known for aggressive business tactics.
- The civil suit names Walls’s former CEO, along with Jeff Cordes and Bill Aisenberg, who were President/COO and CFO, respectively, along with five other parties, including Walls's private equity investors.
- Ronald Chez, who owns ~9.2% of Ironclad, filed a 13-D disclosing an email in which he encouraged the Company to “retain an investment banking firm to assist...exploring strategic alternatives".
- Ironclad shares have been massively and irrationally oversold and investors are encouraged to take advantage of the buying opportunity for this “under-followed gem".
- Two of the current managers of Ironclad have been accused of fraud by their former employer.
- Investors should be concerned about the implications for Ironclad and any potential for drag on the stock price in the coming months.
- Ironclad is still a company, product, and brand with massive potential.
Update: Ironclad Performance Wear Q2 Earnings & Private Placement With Insiders
- Shares of Ironclad Performance Wear have shot up 50% since coverage on June 4, 2014.
- On August 6, the Company announced revenues of $4.8 million in its fiscal 2014 second quarter, up 6.6% from the same period last year.
- On August 25, Ironclad announced it had completed a private placement of common stock to certain officers and directors totaling approximately $610,000.
- Reiterating price target of $.50 to $.75 in 2015.
An Ironclad Opportunity With Under-Followed Gem, Ironclad Performance Wear
- Founded in 1998, Ironclad Performance Wear is a brand leader in technical, task-specific, performance work gloves.
- Trading at a valuation of approximately .6 trailing 2013 sales, the stock is severely under-valued.
- New CEO Jeff Cordes has overhauled the executive team and spearheaded an injection of energy, positioning the company for dramatic growth over the next 24 months.
- ICPW stock has the potential to triple, or better, as results from the Company’s growth strategies bear fruit.
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Ironclad Performance Wear is a brand leader in technical, task-specific, performance work gloves, having created the performance work glove category in 1998. The Company continues to leverage its leadership position in the safety, construction and industrial markets through the design,... More
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