Portillo's (PTLO)

Can't recommend a stock where there's so much insider selling.

Went IPO last October, surging from $20 to $57 last November, but it pulled back to low-30s in December. Fundamentals are good. Today, it trades at $19. It's a beloved stock in the Chicago area, and the company is profitable.

A restaurant chain that went public in October, offering Chicago street food like sausages with 69 locations in 9 states, including drive-thrus so you've adapted to Covid. Managers pay workers well, so they've managed staff shortages well. Financials: drive-thrus see double/triple the business of McDonald's. They reported 15% revenue growth last month, and they're profitable. Plans to expand nationally, but not too quickly. Smart. Negatives: Berkshire Partners still owns a majority stake, so if they cash out, watch out. Jumped from $20 to $54 to $31, so volatile. Trades at 55x PE next year, so it's still too pricey despite the share pullback. Still, he likes the long-term outlook. Buy a partial interest.