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The retail sector has been decimated by the coronavirus crisis.
Stores have closed en masse, inventory has piled up, and retailers have been forced to tap credit lines and debt financing in order to stay afloat.
Like many retailers, Michaels (NASDAQ: MIK), the arts-and-crafts purveyor, has seen its stock plunge during the pandemic. Shares of the chain have fallen nearly 50% since the coronavirus began to rattle markets, as you can see from the chart below.