RE:Bought more cheap sharesThat would be an ouch I suspect. Are you going to average down again today for more "cheap shares"?
I bailed at 122 after waiting too long for what I thought would be a quick rebound but there is something afoot here more than just the short report. Made great profit from my original purchase so not stinging from waiting a little long to bail and not worried about buying back in til this shows some sign of stabilizing.
I would agre with the poster that mentions high inflation and rising interest rates as a serious concern for this type of company and a slowdown in the economy would affect this type of business a lot if personal finances tighten and restaurant visits drop off..Could be that this company just ran into a perfect storm at the wrong time and the rocket ride just came back to earth.
Wait and see is my play for now. Watch and wait for a bottom to play out before the next ride. Definitely a company with an upside but need to see some change in sentiment. Unfortunately that matters as much or more than numbers sometimes.