Hooker added to 'shadow stocks' list
By Furniture Today Staff -- Furniture Today, February 24, 2003
Martinsville, Va. — Hooker Furniture has been added to the list of small company "shadow stocks" followed by the American Institute of Individual Investors.
The Shadow Stock list, which has been published annually by AAII since 1985, features healthy, small companies that receive little or no coverage from the business press, institutional investors and financial analysts.
The 2003 list has 159 companies, including 44 that weren't on the list in 2002.
"By operating out of the spotlight of Wall Street, shadow stocks may offer unique investment opportunities for individual investors," said AAII spokesman Wayne Thorp.
To qualify, a company must be listed on one of the national stock exchanges; have a market capitalization of $20 million to $250 million, a stock price of at least $5 per share, no more than 15% institutional ownership, and positive earnings per share in each of the past four quarters.
