PBPB - Artko Capital - Potbelly Corp.: There Should Be At Least One More Doubling From Here
2024-03-07 11:15:00 ET
Summary
- After remaining flat in 2022, Potbelly was our big winner in 2023, up almost 100%, and another 30% so far this year.
- Our thesis continues to play out and then some.
- We think there should be at least one more doubling from here in the intermediate term.
The following segment was excerpted from this fund letter.
Potbelly Corp. ( PBPB )
After remaining flat in 2022, Potbelly was our big winner in 2023, up almost 100%, and another 30% so far this year. As a reminder, our investment in PBPB was originally a post-Covid recovery special situation with a substantial opportunity to change its business model from managing 400 specialty sandwich shop locations to managing 2000+ franchises as the company hired former Wendy's COO, Robert Wright, to execute on the strategy....
Artko Capital - Potbelly Corp.: There Should Be At Least One More Doubling From Here