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SpartanNash Company Message Board

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  • StockJock44 StockJock44 Mar 15, 2010 10:55 AM Flag

    How low can we go?

    Can't believe this stock hasn't skyrocketed this year. The bad news is pretty much behind us and the rest of the market is about 20% overpriced. SPTN is making money, closed the Plymouth warehouse and is taking the charges this qtr and looks to make 10 to 15 cents per share as a result of this. The short's as of 2-26-10 haven't changed their position much, holding around 1.7M shares short. The institutions have sold off 5% of their holdings. This leaves 2M or so to the gneral public. Last, since 1-4-10, we have traded over 10M shares or 46.6% of the total shares. This means that over 23% of the company shares are in new hands since 1-4-10. This would believe me to think the sellers are running out of stock and the shorters are going to have a very hard time covering in the near future. However this market has stayed irrational longer than a lot of people have stayed solvent.

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SPTN
28.23-0.26(-0.91%)3:58 PMEDT