Lots of debt here and with the economy as soft as it is Macy's may have to shake things up a bit to stay viable. Store closures, dilution or cutting the dividend all seem possible as well as further depreciation of the stock price in my eyes.
This stock seems to have a lot of good things going for it. I never doubt unpleasant surprises but I feel ZFGN is too good to sell. Pros, Large short interest, good financial balance sheet, reasonable upside compared to downside potential and good potential catalysts. Cons, lack of earnings and cash burn. All stocks have risks but the pros are reasonable for this type of stock.