Josh Arnold
Long/short equity

Panera Bread: A Simple Strategy Shift To Double Shares

Panera Bread (NASDAQ:PNRA) is a seemingly ubiquitous bakery-café operator that specializes in breakfast items such as pastries and coffee and lunch and dinner items such as soups, salads, and sandwiches. The company has experienced exponential growth in the past decade and the stock has followed suit, rewarding patient shareholders with large capital gains. The focus of this article is on whether or not the party is over in PNRA shares and if they deserve a place in your portfolio.

Thesis

Panera has always been a very efficient operator of its bakery-cafés. This has been proven out with its immense, sustained profitability over its lifespan as a public company. However, I believe there are catalysts for continued growth not...

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