$CAKE is one of the top picks for restaurant or groups going BK.
Very high debt burden and not setup for online ordering/delivery success. Look at how much alone they took out in the last 18-months....yikes.
Furloughing workers and not paying rent....be careful about holding long here I'd say.
Plus a lot of the their locations are at malls....the type of place people will avoid more the before even when all these 'stay at home' directives are lifted.
They tried to sugar coat their 'success' by saying their online sales have risen 80%.
Well considering their online sales were probably $500k a month prior to the pandemic, well you do the math.
I laid some bets here under $7.50 in the next 6 months.
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