MARKETS SPECTATOR: Accept or Reject?

The Reject Shop plans to sell $10 million of stock to individual investors and there are several reasons the price looks attractive.

Few stocks have attracted such a fund manager following as discount retailer The Reject Shop. The company sold $30 million of shares to institutional investors at $16.20 a share. On Wednesday, April 24, the day after the share sale, the stock surged $1.30, or 7.8 per cent, to $18.02. Next week, individual investors will receive documents from the company that will enable them to each buy up to $15,000 of Reject Shop stock at the same price institutional shares could buy the shares. 

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