Ticker: PRTY
Party City - Shares have dumped over 50% based on earnings -
Theory - this one caught my attention as a possible scalp, but then I had a thought. Recent articles are saying this is the year of the make-up - parties, weddings, and so on.
Now that the fair majority have dropped their masks, and weddings are on the rise - Birthday parties and other social events becoming the norm again - could Party City recover?
At the time of this posting - Shares are trading @ 1.30 apiece.
I got some bids in for the Jan 2023 1.00’s @ .65 - will see if they fill (edit - got fills @ .70)
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Some News Articles -
Snippet - "“As we look to the remainder of 2022, we expect supply chain and inflationary headwinds to continue, which is reflected in our updated outlook,” Weston said in an earnings statement.
Party City is guiding for sales of $2.225 billion to $2.300 billion. The FactSet consensus is for sales of $2.300 billion.
Party City stock is down 78.8% for the year to date."
https://www.marketwatch.com/story/from-omicron-to-supply-chain-disruptions-and-a-helium-factory-explosion-party-city-says-a-variety-of-factors-drove-first-quarter-earnings-miss-11652131334?siteid=mw_robin&mod=mw_RHF