Fred’s Inc. (FRED) Plunges 8.04%

Fred’s Inc. (FRED) Plunges 8.04%

Fred’s Inc. (FRED) had a rough trading day for Friday April 12 as shares tumbled 8.04%, or a loss of $-0.16 per share, to close at $1.83. After opening the day at $1.99, shares of Fred’s Inc. traded as high as $1.99 and as low as $1.79. Volume was 861,540 shares over 2,060 trades, against an average daily volume of n/a shares and a total float of 37.69 million.

As a result of the decline, Fred’s Inc. now has a market cap of $68.97 million. In the last year, shares of Fred’s Inc. have traded between a range of $3.58 and $1.30, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

Fred’s is a U.S.-based company that is principally engaged in operating retail stores. Most of the company’s stores are self-owned stores, with a few franchised stores. The company’s sales mix consists of pharmaceuticals, consumables, household goods and softlines, and franchise, with pharmaceuticals contributing a material portion of total revenue. The company owns 100% of the equity stake in Reeves-Sain Drug Store. The company generates revenue from merchandise sales and franchise fee from franchisees. It also sells gift cards. The company conducts operation primarily in the southeast of the United States.

Fred’s Inc. is based out of Memphis, TN and has some 9,106 employees. Its CEO is Joseph M. Anto.

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