A humorous look at the companies that caught our eye, for better or worse, this week.
Potbelly
PBPB (Nasdaq)
July 11, 2014 close: $11.92 (U.S.)
down $3.48 or 22.6% over week
Given the obesity epidemic sweeping North America, the name Potbelly is a curious choice for a restaurant chain. Shockingly, it doesn’t seem to be resonating all that well with customers. Shares of the sandwich shop, which went public in October, have skidded 60 per cent in the past seven months, and the drop accelerated this week after Potbelly disclosed that same-store sales slipped 1.6 per cent in the second quarter. This stock’s gone to pot, alright.
WD-40
WDFC (Nasdaq)
July 11, 2014 close: $69.69 (U.S.)
down $6.78 or 8.9% over week
WD-40 may be great for lubricating hinges and loosening rusted screws and bolts, but even a few drops can be a hazard to your investment portfolio. Citing “fluctuations in certain markets,” including Canada, the parent company – which also makes 2000 Flushes toilet bowl cleaner and Carpet Fresh deodorizer, among other products – posted third-quarter revenue and earnings that missed analyst estimates, causing the stock to seize up.
Crumbs Bake Shop
CRMB (OTC)
July 11, 2014 close: 64.5¢ (U.S.)
up 47.5¢ or 279.4% over week
Crumbs Bake Shop closed all 48 of its cupcake stores on Monday and said it was considering a bankruptcy filing, so naturally the stock … soared? Yup. The company, which days earlier defaulted on $9.3-million (U.S.) of senior secured convertible notes, got a last-minute rescue loan from a group that included Marcus Lemonis, host of CNBC reality show The Profit. One thing’s for sure: Turning Crumbs around won’t be a piece of cake.
Rogers Communications
RCI.B (TSX)
July 11, 2014 close: $42.12 (U.S.)
down 90¢ or 2.1% over week
Stephen Harper’s secret personal calendar revealed!
Monday: Beat up on cellphone companies
Tuesday: Draw up short list of Supreme Court nominees
Wednesday: Beat up on cellphone companies
Thursday: Muzzle publicly funded scientists
Friday: Beat up on cellphone companies.
With Ottawa setting aside valuable spectrum for smaller players that compete with the Big Three, Rogers’ shares collected a few more bruises this week.
Air Canada
AC.B (TSX)
July 11, 2014 close: $9.67
down 38¢ or 3.8% over week
Attention Air Canada investors: Please return to your seats and fasten your safety belts. We’re hitting a bit of turbulence now that our main competitor, WestJet, is planning to add wide-bodied planes to its fleet, which will give it the capability to fly to more international destinations in direct competition with us. We would ask you to remain in your seats until further notice. Now enjoy the rest of your flight.