market folly

David Gallo's hedge fund firm Valinor Management just filed a 13G with the SEC regarding shares of dELiAs (DLIA).  Per the filing, the hedge fund has disclosed a 9.56% ownership stake in dELiAs (DLIA) with 6,571,429 shares.

This is a brand new position for Valinor and the filing was due to portfolio activity on October 24th.  Whitney Tilson's Kase Capital has also been involved with DLIA shares.

Per Google Finance, dELiAs is "a retail company comprised of two lifestyle brands primarily targeting teenage girls and young women. The Company generates revenue by selling predominantly to teenage consumers through direct mail catalogs, Websites and retail stores. It operates in dELiA*s brand. Through its e-commerce Webpages, catalogs and retail stores, dELiA*s (the brand) offers a variety of product categories to teenage girls to cater to an entire lifestyle. Through its catalogs and the e-commerce Webpages, it sells many name brand products along with its own brand products in key teenage spending categories. These products include apparel and accessories. Its mall-based dELiA*s specialty retail stores derive revenue primarily from the sale of apparel and accessories and, to a lesser extent, branded apparel to teenage girls. It operates in two segments: direct marketing and retail stores."