Barnes & Noble Stock Status Change

I guess all your picks can’t turn out golden. Barnes & Noble(BKS) released a bad earnings report this week. Worse yet they choose to suspend their huge 6.5% dividend. Time will tell if this company is a good long term investment. I have changed my opinion on it to a hold, instead of a buy. I really liked the Dividend that management stated they are suspending to invest more money in Ebooks. This may be the right move for the company long term but short term it’s bad for us shareholders being we won’t get a yield from this investment. I will hold on for the company’s turnaround but not invest any new money in it. Happy Investing. Tony