I just don't understand this stock..keeps going up despite the fact their same store sales are going down across the board. Factor in a coming minimum wage hike and this company is going to get clobbered. Also, people will cut back eating out once their house implodes next year. Yet, management is so wanting to cash out at the top that they instituted a 3/2 stock split to hold this bag up. Someone please tell me why this stock is a buy in any portfolio? It is the GOOGLE of Restaurant stocks..meaning insanely overvalued.
Its probably a combination of things, such as the available float plus some speculation. If I am not mistaken the parent of Outback Steakhouse is going private for an insane amount of money. This move definitely bodes well for the dining space, since there are not many of these specific niche food companies publicly traded. A stock split and dividend is always great dressing, but the reality is -- it recently had a huge break out on enormous volume and its not scaling back at all here. I think a run at $50+ is a given. You need to find out what the short interest is on this to get a better idea on the true sentiment.