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Potbelly Doesn't Look Delicious At Current Levels

After the extremely positive post-IPO fortune of fast food concept Noodles & Co. (NASDAQ:NDLS), the surging IPO of Potbelly (NASDAQ:PBPB) caught our attention. Let's take a look at the prospects of this Chicago-based sandwich chain.

Background

Potbelly is a Chicago-based sandwich chain famous for its toasted sub sandwiches, fresh milkshakes, and in-store musical entertainment. The concept began in Chicago's Lincoln Park neighborhood as a toasted sub shop with eclectic decorations from the original owner's antique shop.

Current chairman and largest individual shareholder Bryant Keil purchased the original restaurant in 1996 and has since worked to turn it into a chain with 286 restaurants throughout the United States-280 owned by the company, and 6 owned by franchisees....

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