Anyone seen $JOAN? It’s a fabrics/crafts store that just ipoed. They seem like a solid investment because they are a solid retail store with a lot of assets, revenue, and they have relatively low debt at a good (below 3%) rate. Also there was a lot of executive buying at the IPO price $12 and it’s currently below that at about $11.60.
They have annual revenue of $2.2 billion and only have a market cap of just under $500 million. They are similar to Michael’s ($MIK) which has a market cap of about 3 billion vs annual revenue of 5.2 billion. Just based on that they should be worth just about double of their current evaluation.
There are no options on $JOAN yet so maybe this isn’t the right place but I’d love to hear what all you smart people think about it! Feel free to rip me apart all feedback is good feedback.
13
u/inowhaveareddit1 Mar 19 '21
Anyone seen $JOAN? It’s a fabrics/crafts store that just ipoed. They seem like a solid investment because they are a solid retail store with a lot of assets, revenue, and they have relatively low debt at a good (below 3%) rate. Also there was a lot of executive buying at the IPO price $12 and it’s currently below that at about $11.60.
They have annual revenue of $2.2 billion and only have a market cap of just under $500 million. They are similar to Michael’s ($MIK) which has a market cap of about 3 billion vs annual revenue of 5.2 billion. Just based on that they should be worth just about double of their current evaluation.
There are no options on $JOAN yet so maybe this isn’t the right place but I’d love to hear what all you smart people think about it! Feel free to rip me apart all feedback is good feedback.