Virtu Financial (VIRT) is one of our Financials team's favorite short ideas. On Wednesday, Hedgeye CEO Keith McCullough issued a "sell signal" to Real-Time Alerts subscribers on the company. "Do you want to be short of The Old Wall? Oh do we have a selling opportunity for you," McCullough wrote about Virtu.
Here's some insight from our Financials analyst Jonathan Casteleyn:
"We are adding shares of Virtu (VIRT) to our Best Ideas list as a Short and are concerned that a secular shift of the market structure landscape and also a depressed volatility regime will lower the baseline of earnings and also valuation for market makers."
CLICK HERE to read more about Casteleyn's Virtu short call.
(McCullough issued a sell signal in Real-Time Alerts, on 9/27. The stock is down more than -2% since then.)