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June 23, 2014 AT 8:01 am

RadioShack falls below $1: It’s now a penny stock…

RadioShack falls below $1: It’s now a penny stock..

The future has looked dire for RadioShack for a while. Technology moves fast, and shoppers long ago began looking elsewhere to satisfy their electronic needs. Earlier this month, RadioShack issued a truly ugly earnings report in which it posted a $98.3 million loss and said sales at stores open at least one year fell 14 percent. A day after those figures were released, B. Riley analyst Scott Tighman slashed his price target on the stock to $0 from $1 and said there was “no recovery in sight.”

…The consensus circulating among analysts is that the clock is ticking on RadioShack. Many have gone as far to say that the next stop for the company is bankruptcy.

See previous RadioShack coverage here.


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