Wednesday, November 30th at 11:00AM ET
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We are taking shares of WisdomTree (WETF) off of our Best Ideas list as a Short this morning. The rate of change in redemptions continues to improve and the complex may finally have a decent catalyst with a US dollar that continues to break higher. We still think shares are wildly expensive and that intermediate term earnings numbers need to come down, however it is now likely with record absolute short interest balances that even marginally positive near term trends can force the stock higher which is now the path of least resistence. Since the initiation of our Short recommendation on December 14th, 2015, shares have declined by -43% into Friday’s close. We now think the risk is to the upside and that the stock could see $11-12 per share in the near term.read more