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On April 3, 2002 PCFB [P.K. Chang's Chinese Bistro] annouced a 2 for
1 split. It has 65 Bistros and has found a niche market. On the
positive side it is rapid growth and is expected to announce solid
earnings growth on April 24. It is trading around its high of 64 and
may be extended. 35% of its float is short as I read it.
A high PE of 54 is based upon the growth rate not only overall but
per store year to year.
The record date for the split is 4/17/02
No decision by me on this one yet since the there could be a short
squeeze or short correctness with an 11.4 million float of 12 million
out. Also insiders are selling in some size.
Stock gives conflicting signals but then again BRK still sells at
over a 100+ P/E and was brought down only once by a negative Barrons
article a few years ago contesting its valuation.
It is on my watch list for now.Do your due diligence and see what you
would do.
John
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