Friday, October 30, 2015
Pep Boys Update
I wrote this post on the Pep Boys automotive chain in 2012. I called it a common sense real estate value play on all their store locations. When I wrote my article Pep Boys (ticker symbol PBY) was trading for $8.29 per share.
Bridgestone has agreed to buy Pep Boys for $15 per share.
If you followed my idea you earned a 68.72% return in about three years or 22.9% per year. Not a bad return for a token price which really amounted to a perpetual call on the company's stock. In other words, buying a LEAP call on PBY with no expiration date. Quite a safe and tidy investment.
Thanks Manny, Moe and Jack.