Posts by Chris Nichols

  • Potbelly's sinking shares still can't find the bottom

    Chris Nichols at The Exchange28 days ago

    For the fourth consecutive day, sandwich maker Potbelly (PBPB) was hitting a new trading low, continuing the downturn that's plagued the stock since its debut last fall.

    On Friday afternoon it was down 1.4% at $18.24, and earlier it fell as far as $18.19. On the market only since October, the Chicago-based chain has been terrible for anyone long the shares for any length of time. It's largely dribbled lower, rather than suffering a few gigantic moves, but it has been entirely consistent in its direction, as the chart below indicates.

    It's had only one positive session in the past two weeks. That steady decline has helped lower Potbelly's forward earnings multiple to 50.6 from a high of 88.3, according to FactSet data, but it still leaves it well above the mid-20s average among a group of 42 publicly traded restaurants tracked.

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