By CCN Markets: For all the hype over Beyond Meat’s IPO and insane rising stock price, Red Robin, a good old-fashioned burger chain, soared roughly 30% on Thursday. One of its institutional investors would like to see the company sell itself.

Buyout Offer

Red Robin Gourmet Burgers received a letter from Vintage Capital demanding that the company consider selling itself to the private equity firm.

Vintage Capital owns about 11% of Red Robin and thus carries considerable weight. Considering Vintage Capital appears to offer $40 per share for Red Robin, shareholders may be hard-pressed to turn down that buyout offer.

Vintage Capital wrote:

“[We] have very little confidence that the current Board will be able to attract a suitable new leader for the Company or initiate or seriously pursue a meaningful sales process.”

The stock traded at $54 a year ago and was trading at half that prior to today’s session.

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