This past spring, I demonstrated why Washington Prime (WPG) stock was a good short sell candidate when it was trading at $5.60. Shares proceeded to drop nearly 50% in ensuing months as the lower-tier brick and mortar malls have continued to struggle.
Despite ongoing poor operating results for Washington Prime and other mall REITs, a sense of complacency seems to have settled in around WPG stock. Shares have rebounded a dollar off the lows and have maintained this bounce despite a flood of negative industry news. However, for speculators that are sitting back