Why Big Lots Stock Is Extremely Volatile Today
Portfolio Pulse from Henry Khederian
Big Lots Inc (NYSE:BIG) shares rose by 9.77% after the company postponed its Q2 fiscal 2024 financial results release to September 12. The company is expected to report an EPS loss of $3.46 on $1.044 billion in revenue. Concerns about potential bankruptcy have emerged due to declining sales, and Big Lots is seeking investors to avoid Chapter 11. The company has $289 million in liquidity, $44 million in cash, and $573.8 million in long-term debt.
September 06, 2024 | 2:24 pm
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Big Lots shares increased by 9.77% after delaying Q2 results to September 12. The company faces potential bankruptcy due to declining sales and is seeking investors to avoid Chapter 11. Expected EPS loss is $3.46 on $1.044 billion revenue.
The postponement of earnings release and potential bankruptcy concerns have created volatility in Big Lots' stock. The short-term impact is neutral as the stock rose due to the delay, but underlying financial issues remain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100