I’m certain you’ve heard all the brouhaha about Cracker Barrel (CBRL) and the elimination of the grinning chap below, “Uncle Herschel”, whose image has graced the company’s logo for many decades.
Of course, America being what it is today, it has become another blue vs. red issue. (As a side note, I’m puzzled how the board of CBRL wound up hiring Ms. Giant Black Glasses as their new leader).
In any case, CBRL has been coughing up blood for years. Even with the recent bounce, it’s worth only a third of its price almost half a decade ago. I have entered a short position against CBRL with a stop-loss at $58.90, just above this price gap.
Here’s the longer-term view, showing the “scallops” tumbling all the way down.
And, having never actually eaten there, I’ve got to say that this mushy, canned, bland food looks absolutely gross.
