COSI Still Overpriced; Offers “Nagurski” Sandwich
COSI recently announced that they will be offering a pulled-pork sandwich called the “Nagurski” for a limited time.
For those watching COSI, I personally think the stock is overpriced right now. Yes, it did double over the course of the year. In my opinion, it was more due to management’s road show than their fundamentals.
I think the market’s valuation of COSI is a bit dot-com-ish because:
- the company is being valued at $400 million when it’s not making a cent
- management has siphoned off thousands of stock options, and repriced them when the stock declined– a sign of pure greed
- management’s predictions about nearing a breakeven point are all “pro-forma”
Okay, I’ll get off my soap box. Back to the sandwich.
The sandwich, which features COSI’s flatbread, onions, peppers, and a barbecue sauce, celebrates the Chicago Bears’ 86th season. It is a tribute to Bears great Bronko Nagurski.
I’m not from Chicago, so I don’t really know the street appeal of this product.
But if you are in the windy city, a good number of Chicagoland Cosi locations offer this item. You can get more details from this press release.
