Gaming, Lodging & Leisure analyst Todd Jordan talks with Hedgeye CEO Keith McCullough about the outlook for hotel stocks in a #Quad4 environment during this clip from The Call @ Hedgeye. With a murky earnings season on the horizon, the hotel space is facing imminent downside in the coming quarters.
“It’s gonna look pretty ugly starting in September," Jordan warns. "I don't care where a stock has come from this month or this year. It's, 'Where can it go?' And I think a lot lower."
“At Hedgeye, we talk a lot about how cheap stocks can get cheaper, expensive stocks can get more expensive. With hotel REITs, we aren’t even at that level to have that discussion yet, because they’re not cheap,” explains Jordan. “When they get to cheap then we can have that discussion.”
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