Is GNC a good stock to invest?
Good news, investors! GNC Holdings is still a bargain right now according to my price multiple model, which compares the company’s price-to-earnings ratio to the industry average.
Does GNC supplements have a stock?
What is GNC’s stock symbol? GNC trades on the New York Stock Exchange (NYSE) under the ticker symbol “GNC.”
Is GNC going out of business?
CALIFORNIA — GNC filed for bankruptcy, and announced plans to close 27 California stores and between 800 to 1,200 stores nationwide. The closures come after the Pittsburgh-based health supplement giant struggled financially for years, working to pay off debt, GNC said in a statement on its website.
Why is GNC stock so low?
GNC’s top-line decline was driven by a combination of strategic store closures and a 0.6% decline in domestic same-store sales.
Is GNC going out of business 2021?
GNC is not going out of business. In June, the vitamin and dietary supplement company filed for Chapter 11 bankruptcy protection. In September 2020, the company announced it would not go on sale at a bankruptcy auction, instead accepting a sale to Harbin Pharmaceutical Group, which will require court approval.
Did GNC get delisted?
GNC Holdings filed bankruptcy on June 23, 2020. Harbin Pharmaceuticals, a large shareholder, submitted a “stalking horse bid” for the company as part of the filing. Shares were delisted and moved to the “pink sheets” where value has slowly decayed awaiting bankruptcy settlement. The common is now trading below $0.15.
How is GNC doing?
GNC lost $35 million in 2019, followed by a $200 million loss in the first quarter of 2020 alone. The problem is that GNC’s prices are too high, and the company is being undercut by online retailers. GNC’s large physical footprint has become a liability.
How is GNC doing now?
With its retail business struggling, GNC closed some 206 stores in 2018, 314 stores in 2019 and 76 stores in the first three months of 2020. It also managed to negotiate accommodations from landlords on 1,500 leases, Tolivar said. But the company continued struggled financially.
What happened to my GNC shares?
Is GNC going out of business 2020?
29, 2020, 7:15 a.m. Vitamin and dietary supplement chain GNC has declared bankruptcy and will close at least 800 of its 7,300 stores.