Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
The chain, which went public in 2011, will be delisted and forced to pay lenders.
The company is closing all its stores, which may be around 58.
BuzzFeed scored an invite to the 2014 Value Investing Congress in Las Vegas, where hedge fund managers from across the country and around the world come to divulge their favorite longs and shorts, and place a few other bets in the process. Here’s the scoop on what’s hot and what’s not.
A crumb that small can’t really be worth so much effort. They’re clearly just doing this for the sake of the camera.
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