I hate when Cramer talks about either side of my trades but I really like Tim Hortons tomorrow. This IPO has been propping up Wendys for a year. The reason I like it is the low float. Wendy’s can’t let too much out there because TH is the only thing holding up their stock
From Reuters: NEW YORK, March 20 (Reuters) – Tim Hortons Inc. is aiming to open up to 200 new coffee-and-donut stores in Canada and the United States and said it expected Canadian same-restaurant sales to grow 4 percent to 5 percent, slightly off its recent pace, executives told potential investors on Monday.
The Canadian icon, which also plans on opening a store in Afghanistan where many Canadian troops are stationed, is preparing to offer about $551 million in shares, representing a 15 percent stake in the company, this week in an initial public offering, as No. 3 U.S. burger chain Wendy’s International Inc. (WEN.N: Quote, Profile, Research) prepares to spin it off.
The shares are expected to price Thursday night for a Friday debut, according to Dealogic