Wingstop has flown too close to the sun and it's wings are melting 🌈🐻
Hello fellow regards. I am also regarded, and have a regarded DD for you which will probably blowup my account, or drop off a dumptruck of lambos at my house, apartment, tent under the bridge.
A simple DD from a simple WSBer
WING currently has the following out of whack fundamentals
P/E: 108
PEG: 7.2
We're in/entering/fully prolapsed recession, and the poors will buy less wings as budgets become tighter.
Competition: Buffalo Wild Wings is already a an established company in this space, wingstop is not doing anything better.
Crappy Astrology Lines:
It has fallen out of the trading channel between ~164 to ~144
Or I'm wrong and we're primed for a bounce, but also ...
There is this gap that wants filled down to ~135
Short Term price target ~$135
Go for that recession mission accomplished target of ~$72
Current position, which I will continue to build. No puts, cause fuck theta. Might enter some credit call spreads, but I prefer this risk profile atm
Be a vulture, not a chicken.