Shares plunged today and have been in free-fall for ages. A good company, but lousy stock, Managers rode the pandemic boom in grilling/BBQs by going public with this company. The problem is, you need only one grill and these grills last a long time. You buy them once. There's a grill glut. You can only hope that this will be taken over. They carry $1.2 billion debt. Shares are still too high. Weak YOY sales.
The grillmaker just announced their first quarter. Results were inline, but issued a strong outlook. Shares surged 7% today. However, shares fell going into the quarter as part of a larger trend of IPOs withering. Could this mark the start of a larger rally?
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