Below is a brief note from Hedgeye CEO Keith McCullough today on why we are removing Micron Technology (MU):
"Now that we’re back at the all-time highs for US stocks (both the Nasdaq and SP500 today) I want to be prudent and book some gains. Micron (MU) has had a great run, and I currently don’t have it rallying much past $26-27.
Why do we get to sell (some) into all-time highs? The problem with consensus is that it hasn't been nearly Bullish Enough on the economic acceleration in growth, earnings, and inflation...
Political partisanship is largely to blame there. It's a good thing my view has rolled with the data rather than my taste for Trump."
In short, book the gain. Micron Technology is up +34% since we added it to Investing Ideas.
