Customers boycott Whole Foods. Time to buy the stock?

Whole Foods (WFMI) stock has already fallen 64 percent from its January 2006 peak of $77.44. The recent economic dip has cut into the spending power of its customers. But now its CEO John Mackey has neatly positioned himself on the wrong side of the health care debate as far as those customers are concerned. Like Fox News Channel's Glen Beck -- whose TV show is shedding advertisers at a rapid pace -- Mackey has the right to express his views. And so do those who keep their employers in business.

Is it too late to profit from the drop in Whole Foods' revenues as its customers stop shopping there to protest Mackey's views? First let's look at what Mackey did. He authored an op-ed entitled "The Whole Foods Alternative to ObamaCare" which called for health-care savings accounts and declared that health care is not an intrinsic right.