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October 3, 2005 Stock Pick: Whitehall Jewellers, Inc. (JWL)

Stock Price: $1.69

Whitehall Jewellers, Inc. is a specialty retailer of fine jewelry offering a selection in diamond, gold, precious and semi-precious jewelry and watches. The company runs 384 stores in 38 states.

JWL is a risky stock, but is near its low and fluctuating up and down on the highest volume in its history. There is speculation that Whitehall Jewellers may be purchased by another company. The company recently warned that they received a default notice from a loan administrator and will be late in filing their second quarter results.

The company is working towards completing additional financing to cover debt and turn around operations. It wasn't long ago that JWL was solidly a $7.00 stock.

There are 13.2 million shares in the float. JWL may be best exploited as a trading opportunity as speculators jump in and out.

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