Don’t Underestimate Whole Foods
It’s hard to believe that Whole Foods Market (NASDAQ:WFMI) was trading in the $50 range just one year ago. Today, the stock is struggling to stay above $10 a share. Of course these days, few stocks are immune from the global economic implosion we’re dealing with now. But Whole Foods has become that one company that I can’t help but to defend. You see, when Whole Foods first went public, it was a punching bag for every armchair analyst and media blowhard that took some kind of sick pleasure in the fact that in the first nine months of its IPO, the stock had dipped more than 30 percent.