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Panera Bread Company Message Board

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  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Jan 11, 2004 2:50 PM Flag

    What's YOUR favorite short?

    shorted 500 ORB @$11.89/sh. on 12/17/03
    shorted 500 more ORB @$13.23/sh. on 01/09/04
    I am losing money on this 1000-sh. short position.

    You are correct that there is risk. Yahoo lists a forward P/E ratio of 20 for the year ending 12/31/04. It is trading at over 30 times tangible book value per share as of Sept. 30, though:

    shareholders' equity: 113,147,000
    goodwill: 95,293,000
    tangible equity: 17,854,000
    shares out: 47,783,528
    tang. eq./share: $0.374
    I shorted at an avg. price per share of $12.56. It's a position I'll stick with for a while.

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