Hedgeye CEO Keith McCullough is adding Crown Holdings (CCK) to the short side of Investing Ideas. Below is a brief note.
With the US stock market at all-time #Quad2 highs, I'm taking down some of my Gross Long Exposure (that I took up big time on this day of last week) and tightening my Net Exposure (by adding to my shorts)...
Looking for Bearish @Hedgeye TREND signals that are approaching the top-end of my Risk Range™ Signal, I find Crown Holdings (CCK) by Industrials analyst Jay Van Sciver. I’d be shorting more BLL here too.
Here's a summary excerpt from his excellent Industrials Pro research product:
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Summary Can manufacturers face problematic volume compares and inflationary pressures in coming quarters. With a robust Quad 2 growth backdrop and large stimulus package on its way, we doubt that richly valued ‘aluminum can plays’ will be sought out by the equity market. The ESG story for these names, which has supported lofty valuations, is steadily eroding. |
Sellem on green, eh.
KM
