An issue of Hot Topic, Inc. (NASDAQ:HOTT) debt rose 4.3% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 9.25% coupon and is set to mature on June 15, 2021. The bonds in the issue are now trading at $95.25 and were trading at $68.00 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
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About Hot Topic
Hot Topic, Inc, is a mall and Web-based specialty retailer of apparel, accessories, music and gift items for young men and women. The Company operates under two concepts: Hot Topic and Torrid. At its Hot Topic stores, it sells a selection of licensed and non-licensed apparel, accessories and gift items that are influenced by popular music artists and pop culture trends.
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