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Boom.
Hedgeye CEO Keith McCullough signaled book the gain on real estate company Realogy (RLGY) for Investing Ideas subscribers today. The stock is up 25% since we added it on 4/13 versus up +7% for the S&P 500.
As our Housing team wrote recently:
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"Our long call on Realogy (RLGY) plays to both the strengths of luxury consumer spending and the broader housing market. The macro housing backdrop remains favorable and the comps remain easy for the foreseeable future. We continue to like this idea given the favorable backdrop, but think much of the mispricing attributable to the high-end's outlook is now better understood and expect the pace of gains going forward to slow." |
