The Unsinkable Martha Stewart

Focus: STOCKS

Michael Brush Image Michael Brush Columnist, MSN Money

Among the loser stocks plumbing 52-week lows, Martha Stewart Living Omnimedia stands out as a bargain that could double and then some, writes Michael Brush of MSN Money.

Domestic diva, CEO, TV host, magazine icon, prisoner number 55170-054—Martha Stewart sports a résumé that's more variegated than the colors that pop up in the flower beds of her Bedford, N.Y., estate.

Now approaching 70, Stewart—once nicknamed "M. Diddy" by fellow inmates, and known to millions of fans simply as Martha—is still reinventing herself. Yet her latest career moves have confounded many fans, while critics and investors see signs in the latest round of makeovers that Stewart and her company, Martha Stewart Living Omnimedia (MSO) should be put out to compost.

Given all that Stewart has survived, though, these skeptics shouldn't count her out just yet. Stewart and her company have really just been working through important transitions—ones that should bring you a double or more in the stock if you buy shares now.

Before I bring you the good news, let's first take a look at what critics say is wrong with Stewart and her company.

First, she moved her "Martha Stewart Show" last year from a major network, NBC, to the less popular and much stodgier Hallmark Channel. This is a sign she's old-fashioned and unable to connect with a younger generation, according to naysayers.

Stewart also ended her pact with Kmart last year after pairing with Home Depot (HD), which seems an unlikely partnership, say skeptics.