DAVE's earnings came in well below expectations today, having only earned 11 cents. That was way below expectations, resulting in today's drop. However, the stock is down only on moderate volume. Since DAVE is a stock with a small float and light volume every day, the sellers should pour in over the next few days and weeks until this stock slowly makes its way into the $7-range where it belongs. Stocks with large floats and a lot of fund ownership tend to crash down quickly. This one will fall over time.
Corporate BBQ is bad to begin with and Famous Dave's is the worst of corporate BBQ. I just stopped by here to see how the company was doing and I hold no position, but geez... it's not rocket science. If the food and service suck (and they always have), you're not going to create loyal customers.
I agree $6 is the number if not lower.They are slowly dying--just look at he trend in comps and store closings while expenses continue to ratchet up. CFO is a useless idiot.No liquidity here so sellers will be pressuring this down for some time
New to the board. Just ordered a pound of brisket and a pound of pulled pork at a local Famous Dave's last night, did the same at a local Dickie's BBQ. Had to do a comparison test, as two people in our house preferred Dickie's, my two son's were on the fence and my wife (thought) she preferred Famous Dave's. Famous Dave brisket was a joke. Pressed meat with a ring of inedible fat, tasteless. We threw it out, my wife wouldn't even let me give it to the dogs. For this, they charge 17.49/lb. ! If I had been in the restaurant, i would have asked for a refund, rather than send it back; the quality of the meat is so poor there is no redemption for it. Made me think of shorting the stock. I know it trades thin volume but what do you think of the current price as an entry point ? And do you think this is a legitimate enough reason to short it ? I know their finances are not the greatest, either. We will never return to a Famous Dave's, the only thing that was any good were their corn muffins and that is not enough reason to return. Ingredient quality today is extremely important and their product SUCKS ! Thanks.