Investors continue to lose confidence in Rent Way's ability to maintain
profitability nearly 2 years after the announcement of 'accounting
Rent Way stock closed today down 9.21% at a new 52 week low of $3.35 on
average volume. This eclipses the previous 52 week low of $3.62. The stock has
dropped over 70% from its 52 week high of $13.74. These levels haven't been seen
since early 2001.
Rent Way announced last month it will hold a 'mid-quarter' conference call in
September. A spokesperson for Rent Way confirmed the call will be held, but
stated it has not yet been scheduled. The company will issue a press release
Mid quarter calls are highly unusual. Although the stated purpose of the call
is to review the companies plans for regaining its market position, investors
may want more. Rent Way has not announced any major changes to the
companies structure or leadership since Bill Short replaced Jeff Underwood as
Senior VP earlier this month.