Editor’s Note: While Sam Collins is on vacation, we’ve asked Nick Atkeson and Andrew Houghton, editors of Big Money Options, to provide you with a trade of interest until Sam returns June 1.
Burger King (BKC) — It appears Burger King may be rising off of a double-bottom.
The stock is just above its 52-week low of $16, which is roughly about where the stock landed in the October 2008 market crash. You have to go all the way back to 1996 to see the King priced at this level for a sustained period of time.
As Americans hit the road this summer and the new BKC advertising campaign attracts attention, the stock’s next move could be to fill the gap that opened in April 2009 when the stock fell from about $23 to $19 on a disappointing earnings report.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
