- Red Robin is one of the worst-performing restaurant stocks in Q3, down more than 23% since the quarter began.
- This poor performance is likely tied to fears of margin pressure industry-wide due to inflation, combined with staffing concerns in the industry.
- While Red Robin's valuation has improved following the sharp decline, I still don't see enough of a margin of safety at current levels.
- In summary, I continue to see better value elsewhere in the market, and I would view rallies above $31.00 as an opportunity to book some profits.
For further details see:
Red Robin: A Look At The Valuation After The Drop