American Apparel Being Snapped Up By Funds
American Apparel (which has only been publicly traded on the AMEX since December) is getting a lot of attention from hedge funds. Some recent SEC filings indicate that Morgan Stanley, Fir Tree, and SAC Capital Advisors each own in excess of 5% of American Apparel (AMEX: APP). SAC has a notable record of finding moneymakers in youth retail, making this development something to watch.
Click over to the article at FashionInvestor for more.
(Full disclosure: author owns shares of American Apparel both directly and indirectly at the time of this writing.)
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