One of our favorite ridiculous companies RedEnvelope Inc. (REDE) had its CEO throw in the towel. Yesterday Chief Executive Ken Constable resigned to "pursue other business opportunities", translating to bailing before the company goes under.
Shares of REDE are down 11% today and $1 away from a new 52-week low, with shares trading around $7.25. To truly appreciate this company you just have to visit their website (which is very well designed) and just browse through all the over-priced gifts. They currently have a lavender lab + blanket for baby that is only $60. Better yet, 
since it’s almost Easter, go all out and buy their Easter Cactus for only $48.
Nothing says Easter more than a cactus plant, so spend away America. I was thinking of getting my lady friend a cute easter bunny and chocolates, but a $50 cactus would be much more romantic, don’t you think? "Here hunny, hug this!"
Well, better luck next time REDE. Despite the bashing, people actually do buy their crap, they brought in $113M last year in revenue but their net income of -5.6M didn’t help anything but put them in the Red. Clever I know.
RedEnvelope should just sell out to Amazon (AZMN) or Overstock (OSTK). But if you think they can turn it around, help them out by purchasing that Easter Cactus.
http://www.thestockmasters.com/index.asp
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