Joe Hendrickson Introduction Duluth Holdings (NASDAQ:DLTH) has clearly seen more and more pessimism from the market since reaching a share price of ~$19 in 2021. Since then, there’s been simply a linear trajectory downwards to their current share price under $5 today. And from a superficial angle, that’s understandable considering the subsequent sales declines and minimal cash flow since. However, I think there's more to the story than what meets the eye of a casual observer. Underlying Duluth is what I ...