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Famous Dave's of America Inc. Message Board

  • markbullet65 markbullet65 Mar 17, 2010 11:33 AM Flag

    Doubled down

    Doubled down on DAVE this morning in 7.10-7.20 range. Neither technicals nor fundamentals, which can provide chatter topics here or elsewhere, have offered particularly useful near-term price predictors for DAVE recently. In fact most of the advisory services I follow have been woefully inadequate the past 12 months. However, as long as investor sentiment, especially retail, remains pessimistic I think the risk-reward here for DAVE, and equities generally, is unusually attractive.

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    • I agree that DAVE is going higher, but disagree that there 'aren't many signs to show it'.

      This morning's pullback is basically the same as I noted last week - the pullback from $7 suddenly one day on high volume. There is BIG (big is relative, of course with only 11m shares outstanding) accumulation. This is shown by, where there have been big intraday volatile moves, higher lows, and higher highs. Over the next few days we'll see the stock pushing close to $8 again. The fundamental story is even better. EV/EBITDA multiple is too darn low, CapEx will be minimal this year (~$5m), thus generating substantial FCF.

 
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