Diamonds and Dogs
The age old battle between fresh fast donuts will continue, but one is now going private. Krispy Kreme Donuts (KKD) is jumping 24% following a buyout offer from a German private equity firm, JAB for $1.35 billion. The offer is for $21 a share in cash so there's little upside from here. The stock fell to a dollar a share during the financial crisis, but has since roared back to the IPO price back in 2000. The company and stock have come full circle.
Are you part of the club because if so, it's not looking good for your investment. Lending Club (LC) shares are plummeting over 25% following earnings and the news the CEO is leaving the company. The company operates an online market place for individuals looking for loans from avenues other than banks. The earnings were not the problem, but news of an internal review exposing improper conduct from the CEO has shareholders a little unnerved. Since coming public last year, the stock is down 80%. Not how these things are supposed to work.
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