06-11-02
RTO Online
The Dow slid, the NASDAQ crumbled, and Rent to Own keeps whistling happy tunes.
It would seem that investors as well as consumers find the Rent to Own
transaction a safe harbor in uncertain times.
While retailer after retailer announces, warns, and, in general, sweats bullets,
the 2 largest Rent to Own companies continue to hold on to recent strong gains.
Rent A Center has seen a steady increase from $20 in October 01 to close today
at $56.24. Rent Way rocketed out of the basement to go from $5 in March, to
close at $11.98 today. Both companies are within sight of their 52 week highs.
(Rent A Center 52wk high $63.88
RentWay 52wk high $13.74).
Even Aaron Rents, who's stock has suffered in recent weeks, is up over $6 a
share since January.
While the major indices had higher than average volumes, only half the average
volume of Rent to Own shares traded hands on Monday. This shows a high investor
comfort level and may bode well for future stock performance. end
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