Since adding CRCT to our Long Bias list last year, we’ve been digging for an edge on the research call to make it a Best Idea call…but have come up empty handed. With the company’s miss and guide down after the close we’re certainly no closer to having that edge on a near-term inflection. The stock is no cheaper with the after-hours implosion than it was yesterday. And in Macro Quad4, our patience for hanging on to losers is extremely low. There are simply too many cheap businesses and great long calls brewing for us to continue to look for an edge on CRCT. Moving on…booting from our Long Bias list.
