SG is a SHORT
SG is not worth much more than $17-$20. Yesterday, SG fell to a $32.57 intraday record low before slightly rebounding to end Wednesday's session at $32.66, down 14.5% on the day and 41.9% from a $56.20 intraday peak that shares hit on their first trading day Nov. 18. The broad AdvisorShares Restaurant ETF (EATZ) fell 2.8% Wednesday, while chains like CMG shed 2.5% and QSR dropped 3%. However, the stock remains 16.6% ahead of its $28-a-share IPO price even with Wednesday's selloff.
CHEF is a LONG
We recently added CHEF as a LONG. Supporting that theme are the numbers out of PFGC today, where it reaffirms 2Q22 Outlook before a conference presentation. Net sales $12.7B-12.9B vs. FactSet $12.70B and Adjusted EBITDA $210M-225M vs. FactSet $218.7M. It also reaffirms FY22 Outlook with Net sales $49.5B-50.5B vs FactSet $49.58B and (A) EBITDA $940M-960M vs FactSet $951.5M.
MCD
A California federal judge Tuesday threw out Byron Allen's $10 billion lawsuits accusing McDonald's Corp. of racially discriminating against Black-owned media companies by spending significantly more money advertising with white-owned companies, but said the media mogul can file an amended complaint
