What sweet irony. Even as the new economy-loaded NASDAQ index continued its death spiral last week, investors gobbled up shares of Krispy Kreme Doughnuts as if cholesterol were a newfound health food. And while the tech gang was frantically dialing down its earnings estimates, Krispy Kreme announced profits that easily beat the forecasts.The stock soared to $79.19, up $6.68 in an otherwise dreadful week.
Krispy Kreme's doughnuts have outperformed microchips, routers and 10-gigabit lasers since the Winston-Salem, N.C., chain went public at $21 a share last April--just as the NASDAQ started its swoon. The company has become so hot since the...
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