I think in the next few days you will see more and more downgrades coming in, and subsequently will put some additional pressure on the shares. I think perhaps you could see share prices in the $7's in the next month or so, will be interesting to see how the negative sentiment affects the stock over the next few days. I suppose it makes sense, if they are making 71 cents a years for 2010, the market will most likely slap an appropriate PE on the stock of around 10, so you have a $7 stock. Note MCD, and other larger franchise PE's are higher (~ 15) given they have much larger and more diversified businesses, and the international exposure is there as well.
We had a 4.5 south of San Jose midweek. I was on the road. Never felt a thing. Yesterday's earthquake was a the northern most part of northern ca. Did not feel anything. The big one, loma prieta, 20 years ago, I was on the road when that one hit. Never felt a thing.
Earthquakes are very weird. When you are in the middle of a good one it is scary as hell. You feel totally out of control. The small ones aren't to bad although they get one's attention..
I agree. I sold several positions today to free up funds to add to my current position at these prices. Bought shares @ $8.56 today and now average $8.89 a share. I've seen enough from a brand new store they opened Monday in Hayward, Ca. and it's packed. SONC only has 14 stores currently in Ca. and minimal exposure in surrounding Western states.
I know they posted a disappointing quarter but the upside and growth potential especially in Ca. is truly huge. I am in long..