Seven months. A long time to try to sell a business like this. Unless the sale process has been abandoned, in which case an announcement should be made.
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Now about five months. At this point, it would be appropriate to announce that no reasonable offer was received and the sale attempt has been terminated, if that is the case.
Not a great sign.
Why do they want to sell?
I would expect that this size restaurant group would not sell easily. Too large for many private parties and too small for any large restaurant operator.
The company still does not seem to be doing great, has a lot of debt and doesn't own anything meaningful. Unless I am missing something.
Why would the "new team" buy into the company only to look to exit just a few years later with no great improvements?
Sure has been downhill for quite a few years -- I'm at $1.98 but not much left. Hit $3.85 just before close. Might be awhile till they can sell. Maybe AB/InBev is looking to get into the Uppa US?
$5.66 is my break even. I've been sitting on this POS since 2007. I'm going to be so happy not to have to look at this giant failure from 70% of a decade ago.
Let's go biatches. $2 more dollars, which is still only 5x EBITDA.
Just $4000 today maed it go up 15%!!! I'll bet some exec is throwing us a bone by spending poker money on the stock!!! Imagine if you won the lottery and purchased $20-50,000! I'll bet you could push the stock up near 100 % on that. And, with all the buying frenzy that day, you could sell that same day and pocket a nice ROI.
This stock is thinly traded. That results in volatility. In fact as of this moment the stock is down over 17% today. Good thing I've only got a tiny number of shares! I'm hanging on to see where this low-stakes ride will take me.
So sell and walk away. Then you won't care and can move on to complain about other things. Selling your shares does accomplish something,.