NEW YORK ( TheStreet) -- Yesterday was a big day for Krispy Kreme (KKD - Get Report), and not just because the stock ended the day up 5.5%, or because the company announced that it has entered an agreement for 10 franchises in Taiwan.
Yesterday, the stock hit an eight-and-a-half-year high, and is now in territory it has not seen since the summer of 2004. Those were heady times for this former cult stock; the wheels were beginning to come off as the company's overly aggressive expansion plans, poor management, and accounting issues converged to nearly take the company under.
This was a $40 stock in March of 2004; by August of that year, it was at $14.
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