SWSH is caught in end of year tax selling as investors match losses to gains to clean up portfolios. Many investors have overvalued stocks and are looking to take profits. SWSH is a prime offset. Unless the company were to announce the sale of its linen's business at a gain, the stock will continue downward. First bounce comes in January once selling pressure stops and mgt present their preliminary results.
What an overvalued stock. Net income down 47%. SG&A up 25%, while revenue is up only 15%. Meanwhile, management throws smokescreens with operating performance based on non-generally accepted accounting principles. What is this, Enron?