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Tuesday, November 29, 2022

dELiA*s, Inc. (OTCMKTS:DLIAQ) On the Move

dELiA*s, Inc. (OTCMKTS:DLIAQ) is making a explosive move up on accelerating volume since hitting all-time lows of $0.0025. We all love the Q stocks for the ability to make EPIC moves like FnF which ran from pennies to dollars over the past 2 years.

After doing nothing but drop since hitting the bb’s on December 22 of last year DLIAQ has finally come to life and many shareholders suggest this q stock might just have big legs. According to one excited shareholder upcoming catalysts for DLIAQ are 1. Sale of Distribution Center sometime in Feb. 2. February 20th is the Auction for assets. 3. First week in March, monthly financial report due which will show true value of assets and true value of Liabilities.

dELiA*s, Inc. recently filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York in White Plains, NY. The Company will continue to manage its properties and operate its businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.

dELiA*s, Inc. (NASDAQ:DLIA) is a trendy girls retail clothing store that sells everything from dresses to jeans to shoes and accessories. They launched in 93, started by two Yale University graduates the label gained popularity among teens in the mid 90’s with a popular catalog business.

At one point dELiA*s boasted $300 million in annual sales from catalog, internet, and retail. The Company also owned a database of over 20 million names, constituting of 30%–40% of U.S. consumers between the ages of 12–18 years old.

dELiA*s failed to keep up with the latest trends however and was further marginalized by changing consumer trends as teenage girls looked to the internet rather than the mall for the latest fashions. This resulted in losses in each of its last fiscal five years as dELiA*s looked for a buyer and most recently a takeover, merger, or debt or equity financing. These efforts were not successful.

Delia’s news comes on the heels of the bankruptcy filing of Deb Shops, another woman’s clothing retailer whose 350+ stores were booming in the late 90’s.

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As dELiA*s commences liquidation sales across the country some investors speculate they could still come out of this without going BK. After all dELiA*s is a well-known brand etched into the minds of millions of woman.

Back in September the chances of dELiA*s being acquired by a major seemed quite real; they said themselves that that had received several inquiries from interested buyers and keep in mind the stock was trading at $0.50 at the time. One wonders where those ”interested buyers’ are now with DLIA trading at a 95% discount.

So DLIA hit an all-time low on Friday of $0.0152 after the Company warned of liquidation and coming BK. Already speculators are coming out of the wood work suggesting that DLIA is ripe for a bounce. In fact almost all stocks bounce at some point and if DLIA bounces from current levels or from triple zero sub-penny land on the pinks after a BK announcement remains to be seen.

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But the chances for an EPIC bounce are excellent; DLIA has been heavily shorted in recent months with a massive short position currently in the stock. As I said dELiA*s is well known and there is value in the brand. The Company still commands huge exposure as evidenced by the massive volume DLIA is trading. Any news could act as catalyst and force shorts to start covering which looks like it is happening now. In any case DLIA is seeing some massive volatility these days and we will continue to report on it as events unfold.

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Disclosure: we hold no position in DLIA either long or short and we have not been compensated for this article.

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