Lazydays Holdings Inc. (NASDAQ:GORV) saw a significant surge in its stock price, rising 22.79% in after-hours trading to $3.76, adding to a 24.90% gain during the regular trading session, according to Benzinga Pro data. This sharp increase followed the company's announcement that it had signed a letter of intent (LOI) for an acquisition by Campers Inn RV.
Check out the current price of GORV stock here.
Acquisition Details Drive Market Response
Campers Inn RV plans to acquire nearly all of Lazydays’ assets and those of its subsidiaries. However, in a Form 8-K filing, Lazydays stated that the expected sale price might be lower than the company's total debts, both secured and unsecured, which could result in stockholders not receiving any recovery.
The LOI targets completion before Thanksgiving, with a final deadline of December 1. Transaction closings may occur site-by-site, reflecting the complex nature of the dealership network consolidation.
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Strategic Expansion for Campers Inn RV
Campers Inn RV plans to operate Lazydays dealerships in Tucson, Arizona; Johnstown, California; Seffner, Florida; Knoxville, Tennessee; and St. George, Utah. The acquisition would expand Campers Inn’s presence to 48 locations across 22 states, marking its first entry into Tennessee, Colorado, and Utah markets.
CEO Jeff Hirsch highlighted the strategic importance of the deal, stating: “This acquisition would ensure that the Campers Inn RV and Lazydays traditions will not only endure but thrive for generations to come.”
Market Context and Risk Factors
Despite today’s gains, GORV remains down 93.46% year-over-year.
Since peaking at $26.73 on March 13, the stock has plunged by a staggering 88.5%, closing at just $3.06 yesterday, marking a sharp and dramatic decline over the past six months.
With a market capitalization of $11.43 million, the stock has traded within a 52-week range of $2.22 to $58.80, with an average volume of 51,710 shares.
Benzinga’s Edge Stock Rankings indicate that the Florida-based recreational vehicle retailer has a negative price trend across all time frames. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
