Opinions

Noah Blackstein, B.A., CFA Wendy's Company WEN-Q BUY ON WEAKNESS Apr 10, 2002

Restaurent sector is doing well. Still has some upside. Inexpensive.

Noah Blackstein, B.A., CFA

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$34.290

Stock price when the opinion was issued

food services

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BUY ON WEAKNESS

They have a habit of selling off after reporting earnings, which is what happened today even after offering bullish guidance and big earnings and revenues beats. Historically, buy it after a pullback.

PARTIAL SELL

Another meme stock. He believes in taking profits, being prudent with your money, even though the Redditters hate him for selling any of these meme stocks. Stocks are not a game and, yes, he understands risk. Bulls and bears make money, but pigs get slaughtered.

COMMENT

A recent meme stock that got pushed early last week to nearly $30, then sold off over $5 quickly. The meme people helped made rich Wall Street shorters, the same people the memers claim to hate.

BUY

The street doesn't give this respect, as shares have been stuck in the low-$20s for 14 months. Today they reported a top and bottom line beat, including 16% same-store sales growth, and raised its full-year forecast a lot and hiked its dividend by 20%. And yet, shares rallied only 4%, still below pre-Covid. It's still cheap.

COMMENT

He fears that most fast food companies can't hold their gains because of inflation. Be careful with this as much as he likes Wendy's. They report Wednesday.

BUY

options Wendy's is seeing huge calls, from 20,000 last month to 40,000 today at just one strike on Nov. 20. The stock and calls are moving higher. He bought calls. He bought and will upside calls against them as it rallies.

BUY

Had a great quarter last month: 7% increase in US comps, 14% internationally, have pricing power, and costs are coming down.

HOLD

Company is performing as usual. Would not be too worried. Good time to hold.

DON'T BUY

Their 7% yield says something is wrong. No. Prefers MCD.

DON'T BUY

The 7% dividend is a red flag, can't trust it.

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Noah Blackstein, B.A., CFA Wendy's Company WEN-Q BUY ON WEAKNESS Apr 10, 2002

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