HSBC downgrades Krispy Kreme, says newly public company will continue to struggle

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Jesse Pound@/in/jesse-pound@jesserpound
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Doughnuts are sold at a Krispy Kreme store on May 05, 2021 in Chicago, Illinois. The doughnut chain reported yesterday that it plans to take the company public again.
Scott Olson | Getty Images

Krispy Kreme's stock is unlikely to rebound in the months ahead, and investors should wait for a better time to jump in, according to HSBC.