Posted on April 29, 2020
Our eldest daughter, Gnocchi, recently informed us that it’s become her life’s mission to have as many near-death experiences as possible.
When we explained to her that this was neither appropriate nor becoming a girl possessed of her intelligence and charm, she snapped back that just as her father had made a mess of his life in the manner of his choosing, so, too, was she entitled to do the same…
Now, we admit, that threw us, and not knowing quite how to respond, we simply asserted that she’d been warped by distortions created by the recent installation of a 5G antenna network in our fair Walatkaville.
It turns out that may have done the trick, as the rest of the day we heard her repeat the phrase under her breath, and when dinner finally rolled around, she’d taken a new tack, inquiring after the qualifications and pre-requisites needed to become a mid-level bank manager.
The ‘warped by distortion’ theme is one that pervades markets these days – if it’s even fair to call them markets anymore.
And one of the places it surfaced recently was in the fast/junk food sector, where stock in a particular purveyor of dirty-winged-fowl-laced-with-hormones-and-antibiotics has recently taken flight.
The company refers to itself as Wingstop (NASDAQ:WING), and speaking of near death experiences, its menu offers both ‘saucy’ and ‘dry rub’ flavors.
Dry rub, eh…?
Care to give it a go?
Wingspit trades with a poultrified P/E of 167 (!), has a negative Book Value and offers an annual yield of just 0.38%.
Call it fundamentally challenged.
More than that, company insiders have sold a fulsome 35% of their holdings over the last six months.
Many happy returns,