CMG - Near a 7-Year Low Is Noodles & Company Stock a Buy?
Fast-casual restaurant chain Noodles & Company (NASDAQ: NDLS) was one of the hottest IPOs in 2013. The stock priced at $18 per share but doubled in value its first day on the stock market.Investors were initially comfortable giving the company a $1.2 billion valuation, hoping for stellar returns as the company expanded to 2,000 locations long-term.
It's been a disastrous investment. Noodles & Company stock peaked around $50 per share in 2013. Today it wallows around $6 per share. Granted, it's nearly doubled from lows hit in March. But after seven years, it's still down 67% from where its IPO priced, and it's down 84% from where shares started trading.