The saga continues for this micro cap company - and its stock. Spicy Pickle (SPKL) announced Monday afternoon that two more stores had been opened during the prior week. Adding those two to the two opened the week before, the total number of units now up-and-running is 30. The company plans to have 10 more open by the end of this year, and 50 more franchise agreements beyond those 40 have already been signed.

One of the new stores is in Hattiesburg, Mississippi. The other is near Indianapolis, Indiana - in the Fishers suburb. In both cases it’s the first Spicy Pickle in the area, though not the last. Two more are slated for Hattiesburg, and nine more are planned for the Indianapolis area.

The Micro Cap Press research team believes these are key expansions - not just in numbers, but geographically. As new markets are penetrated, it becomes easier to establish a foothold in other new markets. Potential franchisees see the current rapid growth, and want to establish their restaurants before some other restaurateur claims a territory.

The food is being well received too, as evidenced by busy stores. Consumers tend to follow the crowd…and a buzz. Though it’s counter-intuitive, the longer the lines are, the longer the lines get. We suspect the ‘newness’ of the concept is going to sustain interest and growth with this micro cap company.

The stock? ‘Wow’ pretty much sums it up. The move from 69 cents a month ago to yesterday’s close of $1.88 may have exceeded anybody’s expectations. At this point, we’ve heard some traders are starting to lock in a short-term profit. Though the general consensus is that SPKL will eventually be worth $2.00, or more, as of right now, there are also a few shareholders taking advantage of a short-term overbought situation by selling their position and waiting to buy them back on a dip.

For the full news release, click here.