Description Party City Holdco Inc., through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations. As of March 9, 2018, the company offered its products through its 900 specialty retail party supply stores, including approximately 150 franchise stores in North America under the Party City and Halloween City names; and e-commerce Websites, principally through the domain name PartyCity.com. In addition, it franchises individual stores and franchise areas throughout the United States, Mexico, and Puerto Rico principally under the Party City name. The company offers its products through company-owned stores, independent party supply stores, mass merchants, grocery retailers, and dollar stores, as well as through other retailers and distributors. Party City Holdco Inc. was founded in 1947 and is based in Elmsford, New Jersey.
PRTY dropped around 60-65% yesterday after a bad earnings report I liked PRTY before the report came out so I was happy to see the opportunity to buy low. I got in heavy at 1.36/sh avg. I missed the "bottom" yesterday as the share bottomed out around 1.07/sh but have seen a nice bounce back today as it currently sits at 1.37/sh at the time of this post. I am looking for PRTY to rebound and stabilize somewhere in the 2.00-2.50/sh range. Just hopefully it doesnt take too long to get there. Couple weeks?
I sold a small share when it peaked today (so far) at 1.45/sh Hoping to see another day in the green tomorrow. I am not going to worry about any sell-offs that happen this afternoon as a result of todays surge.
