Barnes & Noble (NYSE: BKS), a slightly younger brother to Blockbuster in the retail industry, has gone up for sale. The book store firm’s stock moved up 30% after hours to $16.10, more evidence that indeed there is a sucker born every minute. There is some proof that Wall St. has not lost its head altogether. Barnes & Noble’s 52-week high is $28.78. The stock traded at $45 less than five years ago.
The company will explore “strategic options” which means that the value of Barnes & Noble’s priced peaked some time ago along with its prospects. The board of directors understands Barnes & Noble cannot properly be a public company.
Business Insider Emails & Alerts
Site highlights each day to your inbox.