- The highest that Panera has traded was right about $125/share, back in June of this year.
- It fell to right about $96/share nearly 2 months later on August 8.
- Since that day, and pretty much since December of 2010 it has been right at $100 and above.
Stay with me...I have a point:
Let's analyze what I consider the mecca of all restaurant chains: Chipotle.
- They closed at $294 today. They hit their max so far around $325/share just a couple of months ago on July 25.
- That tells me that there is room for growth with PNRA.
If you exclude the financial crisis of 2008...once Chipotle hit $100/share, they did not look back and skyrocketed.
What about Google? Same thing. Once it hit $100/share, it never looked back.
Same thing for Apple.
Fact: Walmart, McDonalds, Coca Cola have never hit $100/share.
If you take into account the local knowledge that Covelli plans to expand to at least 30 locations, my logic tells me to buy Panera. Now. I am funding my Scottrade account, and I am going to buy some shares.
Random NOTES:
- I am writing this blog about Panera stock on a Friday night. Perhaps I should re-evaluate my social life.
- If you read all this, thank you...but you might want to re-evaluate your social life as well:)
1 comment:
BTW...PNRA closed at 133.64 today. I did end up buying a measley 5 shares back a few weeks ago, right around 105/share. I think I may be right on this?
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