Cracker Barrel loses almost $100 million in value as stock plunges after new logo release

[Bluetus]

57. Or, maybe the new logo just sucks

and Wall Street concluded the people running that company don't have a clue how to move this business forward. The stock price drop was actually insignificant, with the shares still up 25% over the past 12 months.

The issue is that revenues have remained flat in recent years, but the profits are dropping sharply every year, leaving them with a very high PE of 21. McD has a PE only slightly higher and they have small but steady growth in revenues and profits.

My guess is that management has been telling Wall Street they were going to modernize their whole image, menu, decor, the whole thing. Remember when JC Penney hired the clown from Apple who tried to turn their stores into a version of the Genius Bar. That pretty much put JCP out of business.

Wall Street was looking for a plan to freshen the whole Cracker Barrel experience and image, and what they got was a new logo that could have been drawn by a 3rd-grader. I'm surprised the stock didn't drop 50%