$RAVE Is A Sinking Ship, Don't Buy The Dip
RAVE continues to look like it's heading for the trash heap. A reshuffling of management on Friday failed to instil any confidence in the market and the stock dropped 32%. This is one stock to avoid or for aggressive traders, go short.Rave Restaurant Group, Inc., together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark. It operates in Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants segments. The company’s buffet restaurants are located in free standing buildings or strip centers in retail developments that offer dine-in, carryout, and catering services, as well as delivery services. Its delco restaurants provide delivery and carryout services that are located in shopping centers or other in-line retail developments. The company’s Express restaurants serve customers through various non-traditional points of sale that are located in convenience stores, food courts, college campuses, airport terminals, travel plazas, athletic facilities, or other commercial facilities. Rave Restaurant Group, Inc. also operates and franchises fast casual restaurants under the Pie Five Pizza Company or Pie Five trademark. As of September 30, 2019, it owned, operated, and franchised/licensed 261 Pie Five Pizza Co. and Pizza Inn restaurants, and Pizza Inn Express kiosks in the United States and internationally. The company was formerly known as Pizza Inn Holdings, Inc. and changed its name to Rave Restaurant Group, Inc. in January 2015. Rave Restaurant Group, Inc. was founded in 1958 and is based in The Colony, Texas.
As always, use protective stops and trade with caution.
Good luck to all!
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