Circuit City Shares Rebound Slightly29 Aug, 2008 By: Erik Gruenwedel
Shares of financially challenged electronics retailer Circuit City Stores ended the week up 19% to $1.80 per share after bottoming out Aug. 27 at $1.51 per share — its lowest stock valuation in 20 years.
The Richmond, Va.-based No. 2 CE retailer is pondering third-party acquisition offers as it continues with ongoing fiscal restructuring.
The retailer’s shares, which have steadily declined since last year, began freefalling after Blockbuster ended its acquisition attempt in July.