Hedge Funds Load Up On CONN'S, Inc. (CONN) After Crash

Conn’s Inc. (NASDAQ:CONN) stock price tanked and hedge fund managers Christian Leone of Luxor Capital (H/T MarketFolly), David Einhorn of Greenlight Capital and Daniel Gold of QVT Financial saw opportunity.  That opportunity might come in the form of the firm selling itself.

To start the year, Conn’s was trading near $77 per share and then troubles began eating at the retailer, who caters to lower income customers. Defaults began to increase in the credit financing business, which accounts for as much as 77 percent of sales as of the ended in July, according to a Reuters report.

It is the credit...