Below is a note from Hedgeye CEO Keith McCullough on why we're removing Genesis Energy (GEL) from Investing Ideas today:
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"With GEL down -4.2% today, it’s not only signaling immediate-term TRADE oversold but, over the course of its stay in Investing Ideas, it has generated some nice alpha (on the short side) in a US stock market that just made fresh all-time highs yesterday. No one goes broke booking gains. I’ll revisit some of our team’s best Energy SELL ideas at higher prices. The sector (which we have not liked) has been smashed on both an absolute and relative basis." |
Since adding the stock to Investing Ideas in May, Genesis Energy is down -11% versus a +3.9% gain for the S&P 500. Click here to read our analyst's original report on GEL.
