“The Shocking News That Could Tank CONN Stock: Is This The End for Conn’s?”
In a surprising turn of events, Conn’s (NASDAQ:CONN) stock is plummeting after reports surfaced that the furniture retailer is considering closing up to 100 of its stores. This news is especially concerning as Conn’s currently operates only 170 stores across 15 states.
Adding fuel to the fire, rumors are swirling that Conn’s is contemplating a bankruptcy filing, with sources hinting that an announcement could be imminent in the coming weeks. This comes on the heels of a rough few years for the company, with losses in the past two fiscal years and projections for another loss in 2024.
The implications for CONN stock investors are dire, as a bankruptcy filing could lead to a delisting notice and the removal of Conn’s shares from the Nasdaq Exchange. As of Wednesday morning, CONN stock is down 35.7% and has dropped 88.7% year-to-date.
For those following the latest stock market news, stay tuned for updates on other companies like Azitra (NYSEMKT:AZTR), Beam Therapeutics (NASDAQ:BEAM), and Nuzee (NASDAQ:NUZE).
In conclusion, investors should closely monitor the situation with Conn’s as the potential closure of stores and bankruptcy filing could have significant repercussions on CONN stock. It is crucial to stay informed and make informed decisions to protect your investments in such challenging times.