Perhaps EZCorp (NASDAQ: EZPW) will have to create a section for surfboards and snakebite kits to accommodate the customers they hope to gain in Australia by investing in pawn shop operators, Cash Converters International Ltd.The Texas based pawn shop and check cashing company invested $45 million for a 30% stake in the Cash Converters getting two seats on the board and making a grand leap half way around the world. Just last year they bought outright a Mexican company, expanding their North American operations.
Last December EZCorp was included on my list of nine suggestions for 2009. Since that time it has remained one of the two laggards. I still believe in the company that continues to expand, using its own cash as it maintains a very low level of debt.
Sometime in the future the economy will recover, maybe not with staggering gains, but it will recover. Ah, but you ask when? Well, trying to forecast that, would really be sticking my neck out.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
