Michael DiBattista
Long/short equity

Sonic Corp: Recent Sell-Off Creates An Opportunity To Buy

The combination of emerging market instability, weak US economic data in the month of January, and the commitment to tapering by the Federal Reserve has recently caused the market to drop about 5% from it's all time high, creating a few potential opportunities in a variety of industries and companies. One company that I believe has benefited from this is Sonic (NASDAQ:SONC), America's largest drive-in food chain, which is down approximately 15% from it's recent high. With their diverse menu options, investments in new technologies, and location expansion plans, Sonic is well positioned to grow their unique brand. In this article, I will outline my investment thesis on why I believe Sonic provides growth at reasonable valuations for

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