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Microcap & Penny Stocks : Qurate Retail
QVCGA 11.84+5.4%Oct 30 3:59 PM EDT
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To: Harshu Vyas who wrote (16)5/10/2024 4:09:42 PM
From: Sean Collett2 Recommendations

Recommended By
Harshu Vyas
sixty2nds

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No idea. It's pretty wild to see. It's on heavy volume too so the selling is legit.

Today is the highest volume since November with around 15MM shares traded today and we had 14MM yesterday and from Jan-Apr the average volume has been 3MM....

I am on the fence about the results as QVC revenue was down 4% which obviously isn't great but they showed signs of customer growth again. My personal view, at least with QVC/HSN, is the worst of the revenue decline is behind them; my worry here is Cornerstone not rebounding as home category declines.

OIBDA was looking good again.

What I personally REALLY didn't like was they used their revolver for all of those 2024 notes and none of the cash. Basically turned that debt into debt at a higher interest payment.

I know a rule was mutual funds and others wouldn't touch a stock below $5/s so we're in penny stock turf and it's trading like it. The risk for any fund holding QRTEA is it being <$1.00/s and seeing a de-listing which is now a done deal as we have traded under $1.00 for 12 days. So we can expect a NASDAQ notice next week likely and they will have until the next 10-Q to turn it around.

There's no news here now until the next quarter and we have a de-listing notice coming. If the stock received a pop when Scion Asset bought in then one can speculate what happens when their next 13F drops around May 15th. Dr. Burry is 100% out of this since he would only tolerate a 10% decline in profit and there's no support right now.

Returning to the prior low of $0.40/s a share is a real possibility given the high volume of selling right now.

-Sean
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