A left-for-dead micro-cap with huge upside potential

While smaller and riskier than my usual stock pick, I have decided to take a position

• New CEO that previously helped the best in the industry execute its own turnaround was hired just before Covid hit 

• In spite of a “high exposure to Covid” business model, the company showed an operating profit during the worst year of Covid impact, which I found remarkable

• A “non glamour” business that appeals to the tastes of rural Americans - deeply under the radar and “left for dead” by wall street  

• Management is: 1.) Focusing on the core “gem” business 2.)  improving unit economics with low-cost product innovation 3.) restarting the growth engine

• My legwork indicates that there are some potentially enormous developments not yet reflected in the financial statements

• Just announced the first annual increase in “core” store count in 20+ years, but no one noticed

• Cash is equal to ~30% market cap and the company has been GAAP profitable for the last 8 quarters

• If my bullish hypothesis is correct, this could be a substantial multibagger

Note: This article is about a company that is below my usual market cap parameters - a true, “left for dead” micro cap. As such, I wanted to add some additional context. First, this is not a time sensitive idea. If the bull case works, it will take place over a period of years. There is no reason for interested investors to rush their own review process or potential trading decisions.