Monday, March 13, 2006

Krispy Kreme warming up

Closing at $7.95 on Friday, up $1.38 on the week, KKD traded heavy volume following the announcement that a former Kraft Foods executive will take the helm at troubled Krispy Kreme. KKD has been steadily recovering from 4th quarter lows (late October, $3.91), and has been a Weak Bearish stock most of the last three months. Nevertheless, Krispe Kreme is on a short leash with the NYSE, and must comply with its required filings as its listing extension deadline (April 30) draws near. The market seems to think a new master will put things in order. KKD was nearly a $50 stock three years ago, but if investors can put that history behind and look at the possible trend change at work, the opportunity for trading profit comes - at some level of risk. A Bullish Crossover is predicted for the coming week, this coinciding with the closure - perhaps - the new CEO hopes to usher in.
Post a Comment