Really? Retail stocks are moving because of news about a weight-loss drug? That’s a massive stretch, even by Macro Tourist standards.
In this clip from The Call @ Hedgeye, Retail analyst Brian McGough, Healthcare analyst Tom Tobin and Health Policy analyst Emily Evans put the impact of GLP-1 drugs like Ozempic in perspective.
“Having Lululemon (LULU), Nike (NKE) and Abercrombie (ANF) in a basket that’s going to win because of GLP-1 is just asinine,” McGough explains.
"If this drug is actually affecting consumer staples, retail, restaurants – well, basically the whole American economy – then it should show up in CPI,” Evans adds. “In other words, if people are going to the pharmacy and they’re paying $200 for their cost share of a very expensive drug per month, that should show up in CPI. It should’ve shown up yesterday.”
Watch the full clip above.
