Nobody knows . . . excluding the fact that all stocks have fallen off a cliff in price since last summer, and every furniture maker is now priced for impending bankruptcy as a result of self-inflicted wounds by record short selling in the U.S. stock market and a developing depression.
Who needs Al-Quida when short sellers are mindlessly destroying America and the backward idea of free-for all markets for that matter? This country has plenty of "terrorists" inside its borders who are all card-carrying citizens not on any government mandated list.
Are you game for buying shares at 20-30 cents per dollar of worth on LZB's liquidation net asset value?
The sky is not falling, chicken little! Short selling is a legitimate trading strategy that just happens to be working against you at this time. I'm amazed that some people lose sight of the fact that stock market is just another form of legitimized gambling! True, the markets are a reflection of how the company is doing financially, but they are not in and of the company itself. LZB will, for all points and purposes, survive this economic downturn in one form or another. You, on the other hand, as an investor, will probably discover that your investment in this company will not survive this economic downturn. Such is the nature of the stock market. If it wasn't for bankruptcy, there would be parity in the markets and you could reasonably expect to catch an upswing to recover your losses. But BK is akin to rolling a seven on the dice table before you make your point. All bets are lost and the house wipes the table clean! No matter what happens in a BK, the investor always looses!
Fear and Greed are the only two emotions that are at play here. Greed gets you into the stock market, and the Fear of losing keeps you in it! Consider what Warren Buffet said about stock market investing: "I've missed alot of opportunities over the years, but I haven't lost alot of money." Bet with your head, not your heart! It doesn't really matter what the end result is for LZB. What matters is that your investment is going down the tubes and you are powerless to stop it! That is why the pps keeps dropping. Most investors are waking up to that fact and are redeeming their shares while there is still some value left.