ZAGG - ZAGG Inc.: Restructuring Plan Can Unlock Value
ZAGG Inc. (ZAGG) designs and distributes accessories for smartphones and tablets, best known for its cases and screen protectors marketed through several brands. The company reported its Q1 earnings highlighted by a significant impact from the COVID-19 pandemic as several retail channels closed amid global lockdown restrictions. Expected weakness in smartphone sales for the remainder of the year has further pressured the stock, which is down by over 50% in 2020. Recognizing the challenges, we think the ZAGG has value with a reset of expectations following the deep selloff. A recently announced restructuring