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March 24, 2005 Stock Pick: Krispy Kreme Doughnuts, Inc. (KKD)

Stock Price: $9.15

Krispy Kreme Doughnuts, Inc. is a specialty retailer that owns and franchises its doughnut stores across the United States. Their doughnuts can be found at convenience stores, Krispy Kreme shops, even hotels.

Doughnut sales have dropped significantly leading the stock to plummet over the past year. The company is now faced with finding financing or possibly going bankrupt. We believe that in this life or death situation, Krispy Kreme will find its white knight. There has been speculation that it could be the white knight himself, Mr. Buffet.

In January, the company replaced the CEO with Stephen Cooper, chairman of financial consulting group Kroll Zolfo Cooper LLC. They also replaced the president and COO with Steven Panagos from the same consulting group as the CEO. Under this new management KKD has finally begun to turn around especially as of late after hitting a low of $5.05 on February 24th.

This is a risky play, but I think we all know doughnuts are here to stay, and most would say Krispy Kreme's are the tastiest.

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