Hedge Funds Load Up On CONN'S, Inc. (CONN) After Crash

HFA Padded
Mark Melin
Published on
Updated on
Conn’s Inc. CONN

Conn’s Inc. (NASDAQ:CONN) stock price tanked and hedge fund managers Christian Leone of Luxor Capital (H/T MarketFolly), David Einhorn of Greenlight Capital and Daniel Gold of QVT Financial saw opportunity.  That opportunity might come in the form of the firm selling itself. To start the year, Conn’s was trading near $77 per share and then troubles began eating at the retailer, who caters to lower income customers. Defaults began to increase in the credit financing business, which accounts for as much as 77 percent of sales as of the ended in July, according to a Reuters report. It is the…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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