In the past year, other than the U.K.'s FTSE, European equity market drawdowns range from the German DAX's -3% to -29% for Italy's FTSE MIB.
This is an institutional research note on Allscripts (MDRX) written by Hedgeye Healthcare analysts Tom Tobin and Andrew Freedman on August 5th. Shares of MDRX are down -14.5% since our Healthcare team wrote "Short More." But this short still has juice left. Continue reading to understand why Tobin and Freedman see an additional -35% downside from here.
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Takeaway: Outside the UK's FTSE, in the past year, European equity market drawdowns range from the German DAX's -3.4% to -28.98% for Italy's FTSE MIB.
Italy is getting smoked by the UK at both the Olympics and in real stock market returns – Italy’s MIB Index leads losers again this morning -1.1%, taking its crash back down to -30.8% from the 2015 peak in the Global Equity Bubble… #EuropeImploding (economically) remains a Top 3 Macro Theme @Hedgeye.
Outside the UK's FTSE, in the past year, European equity market drawdowns range from the German DAX's -3.4% to -28.98% for Italy's FTSE MIB.
Editor's Note: The snippet above is from a note written by Hedgeye CEO Keith McCullough and sent to subscribers this morning. Click here to learn more.
Takeaway: A closer look at global macro market developments.
Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, rates and bond spreads, key currency crosses, and commodities. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products.
Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... I hate to remind non-Global Macro investors on this, but for posterity I will this morning:
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