180 Degree Capital has taken a 6% stake in sandwich chain Potbelly Corporation (NASDAQ: PBPB).
According to its website, 180 Degree is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what it believes are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. In the filing 180 Degree included general 13D language in the "Purpose of transaction". According to the 13D filing, 180 Degree's recent transactions in PBPB were in the $3.96 to $4.32 per share range since December 2019. Shares closed today at $4.12 per share. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have a position in PBPB, but may potentially purchase or dispose of shares pending further analysis and market conditions.
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