GNC - GNC: China Strategy Hits Tariff Shoals
In GNC Holdings (GNC), the irony runs rich.
The company's shares have continued to sink since our last article withdrawing previous operating projections and valuations due to the company's myriad corporate transactions. In particular, the sale of the manufacturing segment, which we considered to be among the company's most stable and valuable assets at a fire sale price, was particularly disappointing. However, we don't believe the decline is associated with the sale of the manufacturing segment so much as with ongoing weakness in the business in combination with a new potential risk. Indeed,