Ark Restaurants: The Story Is Progressing In The Right Direction, But The Stock Price Isn't
- Ark's core operations appear unattractive, and its business model lacks any competitive advantages.
- The market may be tired of hearing about weather issues, but I think they are genuinely significant and believe the company has been unlucky.
- Ark trades at an EV/EBITDA of just 5.7, which is well below the level peers trade at.
- Meadowlands casino development being granted a license is becoming more likely by the day.
- Insiders are buying stock; the CEO took his holdings from 27% to 33%.