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Farewell to a Ticker - Fish Tacos Sold

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August 24, 2010 – Comments (7) | RELATED TICKERS: RUBO.DL

Rubio's Closes Going Private Transaction With Mill Road Capital

I like food and after several trips to the San Diego area a few years ago, decided to see if one of my favorite places was public.  Woo hoo, Rubio's traded on the NASDAQ as RUBO. 

After some research, I went ahead and bought some - probably let my taste buds override my common sense since the first buy point was quickly (and still is) under water.  The spring '09 low point offered a chance to double down at under 4 bucks - averaging down turned the position nicely green in real life.  I also added some shortly after the buyout announcement to bag the cash arbitrage spread - another one of my better - or luckier - moves.

Now, the latest buyout saga is a done deal at $8.70.  Not sure when the shares cash out, when CAPS will close the ticker or if I get to keep the score leader charm - three picks, two red thumbs, one green thumb - all positive points. If you're only going to be score leader for one stock, do it with style. :)  

Also happy to see that, if things hold, fellow Fool ikkyu2 will sneak in just .01 over the five point threshold and capture both points and accuracy.  Can't get much closer than that on snagging accuracy. 

Someone commented on an older blog that Rubio's quality had fallen off lately.  If that's the case, I hope private ownership will turn it back around.  Next time I'm in So. California, I'll be sure to check for myself - hopefully either shrimp or langostino burritos will be on the menu.

Fool on!

Russ

7 Comments – Post Your Own

#1) On August 24, 2010 at 8:06 PM, binve (< 20) wrote:

Hey Russ

>>I like food

me too :)

>> I'll be sure to check for myself - hopefully either shrimp or langostino burritos will be on the menu.

That is good stuff my man. Haven't been to San Diego in awhile myself, but I also plan on checking it out next time I am around there again.!

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#2) On August 24, 2010 at 8:08 PM, kdakota630 (29.53) wrote:

Crap.  Someone beat me to commenting on the "I like food" statement.

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#3) On August 24, 2010 at 8:08 PM, binve (< 20) wrote:

LOL! Great minds and all that :)

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#4) On August 24, 2010 at 8:22 PM, rd80 (98.24) wrote:

I seem to recall Rubio's served beer, I like that too. :)

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#5) On August 24, 2010 at 11:40 PM, bullnada (< 20) wrote:

Hey Russ,

 It was me who said quality went down. If I remember you were asking if you should hold on after you had made some good $ off of it. Ralph Rubio was on the news back then and kept saying quality will be the same, quality will be the same. You know what that means.. Liar.  They took out all the fish tanks, they changed the pesky combo, signature fish taco. Everything just doesnt have the feel it had back in the day of the first one in mission bay. Salsa is kinda bland now.  I dont think they will ever make it what it was. (the original baja fish taco) 

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#6) On August 25, 2010 at 11:24 AM, ikkyu2 (99.16) wrote:

Yay!

I don't see they stand a chance against Chipotle, though.  The Chipotle opened a few months ago in the little college town where I lived; the local mom-and-pop fish taco shop burned down the day they opened - very suspicious :) - and Baja Fresh shuttered 2 weeks later.

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#7) On August 25, 2010 at 5:15 PM, rd80 (98.24) wrote:

Well, ticker is gone from Yahoo! and the shares in my account have been replaced with $8.70 each in cash.  Life is good.

Thanks to all who commented or rec'd.

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