SuperValu collapse

I owned SuperValu (SVU) last year.  The thesis was that it was a fundamentally robust company whose price had been knocked down by poor performance but which still paid a decent dividend.  I would get paid to wait for a recovery.  After a succession of price declines I finally sold the stock in October 2011 for around $7.50 (a 30% loss).

Today SuperValu suspended its dividend.  The recovery never happened.  Fitch downgraded SVU to CCC.  The price plunged to $3.00.  Ugly.

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