More Evidence That The Gourmet Cupcake Bubble Has Popped (CRMB)

Crumbs, the world's largest cupcake company, isn't doing very well. The company's stock plunged shortly after its 2011 IPO from $13 to $3.75 when its earnings missed Wall Street estimates. It started tanking again last week when Crumbs announced that sales would be 22% lower than projected. Crumbs also indicated that certain locations "incapable of reaching acceptable levels of financial performance" would need to close, according to the Wall Street Journal. This collapse led the Journal's Emily...