Fast-casual sandwich shop operator Potbelly Corporation (NASDAQ: PBPB ) held its IPO last October and, on hopes that the fast-casual chain might be the "next Chipotle Mexican Grill," shares more than doubled to a 52-week high of $33.90 from an initial IPO price of $14. Since then the shares have come back down to earth, falling by over 50%. Such a fall naturally leads investors to wonder if Wall Street perhaps went too far in selling off the still-fast-growing restaurant operator. Motley Fool Consumer Goods Analyst Sean O'Reilly explains why the sell-off was more than warranted and why after such a huge drop the shares likely reflect a more reasonable valuation.
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