"best of breed in industry"
Everyone's got a favorite operator in that space. Who's "best of breed" is an open argument. What's not an open argument, is that the entire space is economically sensitive, and if the economy continues to deteriorate, they will all get hit.
BWLD is trading at a premium to the market, and a premium to its growth rate. It was trading nearly 50% lower just 6 months ago, and even in this environment is trading within spitting distance of its all-time high.
How would you define the risk:reward on capital invested in BWLD at $37? Seems to me if it traded at $20 as recently as 6 months ago, in a worsening economic climate, it could go right back there. That's $17 of risk against what kind of reward?