Burgerfi - V Recovery - Give or Take 2 Weeks

I think we see a sharp V recovery sometime in the next 2 weeks for BFI.

- Q1 '21 results should be coming out shortly (sometime this month) and I expect YoY growth and positive overall numbers
- Shake Shack's recent report showed that sales in southeastern restaurants were up 2% YoY, whereas the stores in the rest of the country were down -8% or more. The key here is that half of BFI stores operate in FL
- Management continues to add high level positions (CTO added today)
- Growth story should remain intact for 2021 during Q1 report (and I expect BFI will get close to opening the 30 projected stores by year end- originally stated as 17 corporate stores, which essentially doubles the valuation)
- SPAC's are largely oversold right now and on the chart, BFI is now the most oversold it's been since it's SPAC debut

Good luck out there and stay well

- C