Agree w/ you, Book. The market is struggling this week w/ high priced oil and unrest in Africa and Middle East. This is weighing on virtually all stocks. Even if this were not true, I see no catalyst to cause CQB to rise to $20 without any significant news. Short of a buyout offer, we will see this kind of share pricing for months to come.
I would keep in mind the 5 things that will determine CQB's share price by 3-3-11.
1) Any major revisions by analysts (most notably, BB&T). If they raise or lower targets for any reason at all, the stock can easily move 10%+ in a day in either direction. Historically, BB&T has sometimes made comments ahead of earnings, other times right after earnings are known.
2) FDP reports a day before CQB. Their results will impact the perception about how CQB will report, although they are less of a barometer than DOLE.
3) Reported earnings and revenues, which is the most obvious.
4) The tone of comments from management, particularly any guidance or inferences about the future. I think analysts will be looking closely for progress (or lack thereof) on salad volumes. It is a little early for this, because it will actually take up to a year to know if CQB's strategy is working in this area, but analysts are not famous for patience, and investors are even worse.
5) The broader market affects everything when it gets tumultuous like this. Investors could begin to reload tomorrow, or the carnage could last all week. Nobody knows. So much depends on Libya at the moment, which is sort of ironic. We get something like 1% of our oil from them, but fear has sent prices through the roof. I actually doubt that either side in the impending civil war is interested in destroying their only source of revenue. But, the oil assets are largely divided geographically in rough alignment with loyalty leanings, so there is a case to be made for one side blowing up the other's assets.