Your thesis surmises that, once absorbed by the market, the Gander deal and going debt free should have added ZERO price appreciation to the stock.
Not quite. I think the price should have gone higher but obviously it did not. The facts speak for themselves. And it speaks for most companies as well. What drives stock prices for most manufacturing companies is earnings.
Virtra has not yet delivered consistent, reliable double digit growth in earnings, year over year. Until then I think the price will go nowhere.
News will cause the price to pop, but until news translates into real earnings I'm not expecting much else to happen.
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