FRAN, I believe I made a mistake on this one
I hate to admit it, but after doing more homework tonight that I undervalued it. Yes they made all their earnings from cost cutting, but if they can keep that up, and continue revenues at the same pace, they might just post $2.70 adjusted non gaap EPS going forward. I also hadn't looked at the balance sheet book value, and didn't realize they have $22/share book. However having found all that out, I still don't think that they are worth more than a 5 PE going forward, so maybe $13. I mean BBBY and MIK are huge in comparison, and only have 5 or less PEs going forward. All three stores MIK, BBBY, and FRAN are having their problems, so even though the balance sheet is better on FRAN, I again can't give them a higher PE. I believe the stock popping so violently is for short covering. However with the tiny float, and so many times float the stock has traded, I believe the shorts have pretty much covered.