The Hedgeye Retail team made a short call on MarineMax (HZO) in February 2022, with the stock price around 44. HZO is down -38% since to under 28 a share.
Ten days ago, Brian McGough and the Retail team moved HZO higher up the "Best Idea" Short list, just in time for today's -17% freefall.
"This company talked up its book in October, it talked about the great demand for the boating lifestyle. They said two weeks ago everything's great, business is fine, and now they come out and they absolutely blow the quarter," McGough explained on The Call @ Hedgeye this morning.
"One of a couple things happened. Either they: a) Don't know their numbers; b) the consumer got really, really bad really fast. I think that's probably true as well."
McGough has repeatedly expressed his concerns with HZO management, and will stick with the short call, even after today's drop.
"I think it'll go a lot lower," he adds.
Watch McGough's explanation from The Call above, and subscribe to Retail Pro for more analysis on the sector.
