11:40:39 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Indigo Books & Music Inc
Symbol IDG
Shares Issued 27,666,558
Close 2023-12-28 C$ 1.74
Market Cap C$ 48,139,811
Recent Sedar Documents

Globe says stock pickers waiting and seeing on Indigo

2023-12-28 07:17 ET - In the News

Also In the News (C-LB) Laurentian Bank of Canada

The Globe and Mail reports in its Thursday edition that Benj Gallander and Ben Stadelmann look back at their stock purchases -- and stock avoidances -- in 2023 and conclude that over all, it was a mixed bag in terms of results. The two stock pickers/newsletter writers say that alas, it was not like 2020, when their score was perfect. In June a decision was made to avoid purchasing Indigo Books & Music when it was trading right around where it is now. They would not be surprised to see a turnaround now that Heather Reisman has returned as chief executive officer. With billionaire husband Gerald Schwartz in her corner, they can feed the mill for a long time to give the company time to recover. In July, hope sprang eternal with Laurentian Bank, which they had previously acquired. When LB suggested it was looking to be acquired, the stock popped, and their purchases looked mighty sexy. Ultimately, they were not, as no offer arrived and the For Sale sign was taken down, with the stock then diving. Currently they are underwater LB. Still, their belief is that the stock will move up at some point while they enjoy a fat dividend. LB has cut the payout before, though they do not think that is likely to happen soon.

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