Crumbs sees stock rise over 1300% on rescue rumor
It may not be the way the cupcake crumbles.
Crumbs Bake Shop stock is soarinź¦g nearly 1,500 percent inį¦ mid-day trading Thursday on reports of a rescue plan spearheaded by Marcus Lemonis.
Lemonis, best known for CNBC reality show āThe Profit,ā is also the chairman and chief executive ofš§ø Camping World aź¦nd Good Sam Enterprises.
CNBC initially reported that Lemonis may lean on loan broker for distressešd-debt specialist Fischer Enterprises, which two years ago bought ice-cream maker Dippinā Dots out of bankruptcy, foā¦r financing.
New York-based Crumbs said on Monday that it was closing all of its stores, which numbered 65 in 12 states atź¦ the end of its most recent quarter.
Nasdaq haš d suspended trading in Crumbs shares a week earlier, claiming the cupcake maker fell short of the exchangeās minimum stockholders equity requiremź¦ent of $2.5 million.