I heard from a broker the rumor that CC {Circuit City} will be bought by a private firm. Anyone has heard the same thing? I mean the solid news. I also heard that some investors are accumulating the shares at these levels.
In case you haven't heard getting people to buy risky debt has become next to impossible. You'd need to sell a fair amount of risky debt to take CC private.
I am following CC and now I am a firm believer that CC will drop below $10 in a couple of days. It is a safe short in this market. Look at it now. Everything is up and it has dropped 50 cents.
