Chef's Warehouse (CHEF): Take a good look at that chart and the r...

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Re: Don Quixote post# 128

Wednesday, 03/25/2020 4:23:14 AM

Wednesday, March 25, 2020 4:23:14 AM

Take a good look at that chart and the recent trading history. This closed @ $39.58 on February 12th. All these institutional holders sold off slowly from there all the way down to $3.60 a few days ago as news about the Carona virus continued to get worse. Most Nasdaq stocks took a beating in the ensuing market crash, but this one got a 90 percent haircut from that recent $39.58 close. This company announced they borrowed $100 million from their $150 million line of credit for liquidity reasons a few days ago, even though they have cash on hand of $175 million. We are still an attractive buy down at these levels and as the institutional holders buy back the stock they sold off earlier, that is putting serious pressure on the ask and the price is proving that. They want their shares back and they are still a bargain at this price. I think we have a ways to go before we need to worry about a resistance area. Good luck brother.

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