Stock Ticker RICK Does Another Acquisition
Wednesday, March 27, 2013 1:58 PM
I bought 2500 share of RICK last week at $8.83 - just for a little fun. Today we got news that they are adding yet another club to their collection. Now even though RickyBoyDugan told me that they are about to go belly up due to debt and that this is a terrible time to do acquisitions they are sure moving confidently and aggressively.
Let's use this thread to see if RickyBoyDugan was right and I made a bad investment here. (My thinking is I'll be okay here. They have a good record lately if growin revenue which should continue as the economy improves. Also their assets should appreciate if commercial real estate comes back this year, and if their stock gets a pop they can use that to do a secondary and use the proceeds to pay down the debt they've wracked up during this growth/acquisition phase.)
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