American Apparel Shares Hit a Buck (APP)
For the first time since last August, shares of American Apparel Inc. (NYSE: AAP) have closed a trading day at $1/share. The clothing retailer has been under SEC scrutiny since May, but the investigation was recently closed and no charges…
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For the first time since last August, shares of American Apparel Inc. (NYSE: AAP) have closed a trading day at $1/share. The clothing retailer has been under SEC scrutiny since May, but the investigation was recently closed and no charges were brought against the company.
American Apparel was one of our 10 Stocks Unlikely to Survive 2012, and it’s not out of the woods yet. The company has $8 million in cash and $91 million in long-term debt. Operating cash flow is negative in each of the last four quarters. But getting the SEC out of its hair with no more damage can’t help but raise shareholders hopes.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
