Looks like some profit taking after a tremendous run-up over the last couple of months. I don't think there is necessarily any news behind it.
Of course there has not really been any developments to back up the stock price increase... just a feeling that management is finally getting its act together and that the decision to focus on franchise-operated restaurants will lead to more favorable results.
I'm still long and just a little above break-even having bought in originally at $8 and averaged down at $3. Either over the next year we will start to see positive same-restaurant weekly sales comparisons and the stock will continue its general upward trend or the comps will be negative and it will be time to bail out.
btw, am I missing something. Do they report sales comparisons somewhere other than in their quarterly reports?