A good fianncial newsletter written by a conservative guy gave a call to short Gannett - betting it would go down. Their cash flow is drying up and they have huge debt. He made the call to short at about $16.50 to 17. I am not big on shorting, I usually might do it to hedge. The stock is down to $12.25 and the call generated a gain of about 38% in 3 months.
He said they will eventually be sold off for peanuts or will go bankrupt. Whenever I go into a hotel - I always tell them please no USA Today. The only people who read it are idiots who look at the pictures.
Which financial newsletter? I want to know anyone who would tell people to short Gannett, because they so richly deserve it on so many levels. Freepmail me if you don’t want to post an ad for the newsletter.