In this clip from The Call @ Hedgeye, Retail analyst Brian McGough highlights how GameStop Chairman Ryan Cohen took approximately a 10% stake in Bed Bath & Beyond (BBBY), and why he doesn’t buy into the hype.
“Blood Bath & Beyond is terminal,” explains McGough. “There is nothing that could be done to fix that. I have thought through this a thousand times over. This stock is up here because the short interest has gone from 24% probably to zero.”
McGough elaborates further that, “I’m very much inclined to go heavy short against Ryan Cohen. I’m not part of the Ryan Cohen fan club where I will do blindly anything he does. He’s just an investor who makes big bets and occasionally makes wrong big bets. And he is making a wrong bet right now.”
(This clip is a small taste of what our subscribers get each day on The Call @ Hedgeye. In a nutshell, The Call is our morning research call hosted by Hedgeye CEO Keith McCullough with our 40+ analyst research team. It helps small and large investors alike make better decisions via unique and investable stock/sector updates CLICK HERE to learn more.)