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Stage II passes crash course on Wall Street. (Stage II Apparel Corp.)
- Article from:
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Daily News Record
- Article date:
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March 20, 1989
- Author:
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Copyright informationCOPYRIGHT 1989 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stage II passes crash course on Wall Street
The two entrepreneurs who run Stage II Apparel Corp. may know how to run a men's wear import business but their timing on going public was less than inspired.
About a week before the Oct. 19, 1987, market crash, Stage II sold 1 million of its shares to the public at $8 a share. The stock sank as low as $3 a share despite strong sales and earnings growth. But recently, with the recovery of the stock market, Stage II stock has been moving ahead and may soon approach its offering price. At last look, it was trading at around $6 on the American Stock Exchange.
At an interview in their Empire State Building showrooms, ...
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