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Fast casual chain Noodles & Company (NDLS) has been a seemingly perpetual turnaround story for the past few years. I was vehemently bearish when Noodles came public several years ago, and was for some time. However, I changed my tune last year amid a successful relaunch of the chain with a modernized, more relevant menu.
The stock has performed relatively well this year, although it has vastly underperformed its peer group in the past month or so. While I think the company’s turnaround efforts are working, I also think the stock