PLCE - Children's Place Is On A 'Slippery Slope' Says Bearish Analyst: 'There's Little Margin For Error' | Benzinga
Shares of Children's Place Inc (NASDAQ: PLCE) tanked in premarket trading on Tuesday as shares declined by 30.7% to $11.36 at last check Tuesday.
The retailer likely needs $50 million to $75 million in funding to run the business with the "proper inventory and resource levels,” according to B Riley Securities analyst Jeff Lick.
The Children's Place Analyst: Lick downgraded the rating for Children's Place from Neutral to Sell, while lowering the price target from $19 to $4.
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The Children's Place Thesis: ...