Big Lots May Be Reopening But Don’t Bet on BIGGQ Stock

Big Lots (BIGGQ) stores are reopening after the troubled home goods retailer started closing locations after its bankruptcy filing last year. After some negotiating, Variety Wholesalers swept in to purchase 219 Big Lots stores and two distribution warehouses. This new owner is reopening these locations in waves.

The first of the Big Lots stores reopening took place earlier this month in Kentucky, Louisiana, Mississippi, North Carolina, Tennessee, and Virginia. The next wave of reopening will have 55 more locations start operating again on May 1. The remaining stores are scheduled to reopen through early June.

Lisa Seigies, President and CEO of Variety Wholesalers, stated “We know the stores won’t be perfect to start, but each week we’ll add more new products as we build towards the grand opening celebration in the fall.”

What Does This Mean for Big Lots Stock?

Big Lots stock was delisted from the New York Stock Exchange (NYSE) last year after its bankruptcy filing. Now the company’s shares trade on the OTC Markets under the BIGGQ stock ticker. Shares that trade over-the-counter offer significant risks as they can experience extreme volatility at higher rates than those listed on the NYSE or Nasdaq.

For example, BIGGQ stock was down 33.04% as of this writing, building on its 94.5% drop year-to-date. The company’s shares only trade for 2 cents each right now. That’s not too surprising as stocks typically lose most of their value after a bankruptcy filing.

Is BIGGQ Stock a Buy, Sell, or Hold?

Turning to Wall Street, there’s no significant analyst coverage of Big Lots stock. That isn’t surprising as analysts are unlikely to cover shares of a company that went through bankruptcy so recently. Looking to the TipRanks AI Stock Analysis, Big Lots has an Underperform rating, largely due to its recent financial performance.

See more BIGGQ stock AI rating data