RadioShack Plummets: Stock Now "Worthless"

I’ve been writing about the demise of RadioShack since 2012. I wrote this in February 2013:

Radioshack operates 7,000 locations and employs 34,000 people. Their only chance at survival is to close their 30% worst performing stores immediately. Retail CEOs rarely have the wisdom and reality based thinking to do what needs to be done. Time will tell, but this is just another dead retailer walking.  

They will be lucky to make it through Christmas before declaring bankruptcy. There will be thousands more "Space Available Signs" in strip centers and dying malls across America. When your stock price is 85 cents, it ain’t a long way to zero.

Told ya so.

RadioShack is worthless and weak.

RadioShack sinks 13% after Wedbush calls it worthless

By Ben Eisen

Published: Sept 10, 2014 2:58 p.m. ET

NEW YORK (MarketWatch) — Shares of RadioShack Corp. RSH, -10.68% plunged 13% to 85 cents on Wednesday after Wedbush analyst Michael Pachter cut his price target to $0. Pachter, who lowered the price target from $1, wrote that he expects the beleaguered retailer to enter bankruptcy as part of its turnaround process. “Our price target reflects our expectation that creditors will force a reorganization and wipe out RadioShack’s equity,” Pachter wrote. In June, B Riley analyst Scott Tilghman lowered his price target to $0. The average price target of analysts surveyed by FactSet was $1.13