Playboy’s Bunny Gets Cooked (PLA, ICON)

Posted in General, pre-market 
December 16th, 2009

Playboy Enterprises Inc. (NYSE: PLA) appears to have fallen off the apple cart of merger candidates in old media.  The deal to save the declining Bunny empire appears to have fallen apart on reports that Iconix Brand Group, Inc. (NASDAQ: ICON) has terminated discussions over a merger.  The end to the Iconix negotiations leaves Hugh Hefner’s company very few places to turn.  At 8:22 AM EST we have shares trading down 17.7% at $3.16 on over 300,000 shares.  Average volume is 496,000 shares and the 52-week trading range is $1.10 to $5.22.  That 52-week trading range does not come anywhere close to showing the whole picture as you will see in past stock prices here:

  • April-2008 $8.00+
  • October-2007 $11.00+
  • October-2005 $15.00+
  • February-2000 $22.00+
  • April-1999 $32.00+

JON OGG

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