Since posting a $4 million profit, shares of Krispy Kreme has been headed north for the past three days - from an opening price of $4.40 on Monday to a close of $5.20 today, and it seems to be gaining steam.
Some pundits are cautious, and cite the past quarter's success as a fluke rather than a sign of recovery - but then, I bought in because I felt it was grossly undervalued: the stock was trading at more than $10 a share just one year ago and had fallen to that level from nearly $45 before the financial woes of rampant growth gutted shareholder confidence.
The firm is still going strong, and the local franchises don't seem to have suffered much - so I still have a great deal of faith that the corporation can straighten out its balance sheets and pull through.
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