Barnes and Noble today has a major new 12% shareholder. I'm fuzzy on the details, but suffice to say, it looks like someone has come in and looks set to either buy it outright at some later stage, or they will want to actively get the board to start selling off parts of the company to 'release share holder value'. Yeah, that will really end well - as Sears will also probably come to realise across this year.
BKS, daily
I would be surprised if BKS can hold up around these levels for very long. Considering the monthly index cycles - which could take us all the way down to sp'1150 in the next 3-6 months, BKS will find it tough to hold above the big $10 I believe.
Lets be clear, for the moment at least, BKS is still losing money. As the joke goes 'they lose money on every sale, but make up for it on volumn'.
