My first major purchase I made with my own money from my newspaper route.
Posted on 09/10/2014 1:54:31 PM PDT by SeekAndFind
Thoubled electronics retailer RadioShack Corp's shares have lost nearly a third of their value since brokerage Wedbush Securities said on Tuesday the company could file for bankruptcy soon, making the stock worthless by the end of this year.
The stock fell as much as 20 percent to 76 cents on Wednesday, adding to a 23 percent plunge on Tuesday.
"Our price target reflects our expectation that creditors will force a reorganization and wipe out RadioShack's equity," Wedbush analyst Michael Pachter wrote in a note.
Pachter, rated four stars out of five by StarMine for the accuracy of his calls on RadioShack, is the second top rated analyst to cut the stock's price target to $0 this year.
RadioShack's stores, which have been around for more than 90 years, were once the go-to shops for budding innovators and engineers for products that ranged from vacuum tube speakers to the first mass-produced PC, the TRS-80.
But the retailer has not done enough to transform itself into a destination for mobile phone buyers, losing out to rivals such Amazon.com Inc and Wal-Mart Stores Inc.
(Excerpt) Read more at mcall.com ...
This was easy to see coming. Their electronics have been rebadged last generation product sold at a premium to unsuspecting older folks who haven’t figured out they are being had. The only reason to go in there anymore is if you need a cable/adapter quickly and don’t have time to wait for a cheaper alternative from an online retailer. That and if you like to hack around with breadboards and circuits...but even those items are way over priced.
Radioshack forgot who its core customers were.
Vacuum tube speakers?
Yes. As someone that still uses a multi-meter I build over 30 years ago from a Radio Shack kit, it makes me sad. What is really bad is I have to go to Fry’s or Best Buy to get adapters or cables Radio Shack no longer carries.
RadioShack became just another place to buy a cellphone.
In other words, they became pointless.
i went into the local Radio Shack once out of desperation to buy a cable.
Not one other customer in the store and service was atrocious.
Not for a while. That was the only reason I sometimes went there, and their stores' selections of those items have dwindled dramatically (along with electronic hobbyists). There is little reason for RS now.
Another American icon gone, followed soon by Sears and KMart.
The one here had an oddball adapter that BB didn’t have. That is about it for radio schlock for me.
Do they still have transistor radios there? Haven’t been in a Radio Shack in decades........,..
Everything went kaputt when Charles Tandy died.
They drove away their customers by asking if they wanted to buy batteries and demanding a phone number. I guess they sold phone numbers to telemarketers to make money.
Looks like an excellent time to go short on Radio Shack stock.
“Our price target reflects our expectation that creditors will force a reorganization and wipe out RadioShack’s equity,” Wedbush analyst Michael Pachter wrote in a note.
...
I’m shocked that any analyst bothers to cover them.
I used to buy a lot of components there, but worse then the price was the fact they simply stopped carrying even the most common items. It’s cheaper to go to Digi-Key, which has everything, but you have to wait a few days.
I’m kinda surprised RS has lasted this long. As others have mentioned, its niche in the market has dwindled. I also second the comment about service. I got better service at the dollar store than I did at the last RS I went to.
My first major purchase I made with my own money from my newspaper route.
Does it still work?
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