Rent Way stock continues to lose traction, setting a new 52 week low of $2.76
per share on light trading.
These levels have not been seen since December 19, 2001 when RWY stock traded
at $2.62 shortly after the announcement of accounting irregularities.
At press time (11:34 EST)
down an additional 8% to $2.52, bringing the companies market cap to approx $65
Rent Way announced last week the hiring of Salomon Smith Barney to "guide
Rent-Way through its efforts to refinance current debt". No word yet as to the
progress of that effort.
Rent Way had announced it's intention of conducting a mid-quarter conference
call in September to give investors a summary of the company's plans for
improvement. That conference call was delayed and, as of today, has not been