KR: Adding Kroger to Investing Ideas (Long Side)

01/04/18 03:56PM EST

Below is a brief note from CEO Keith McCullough on why we're adding Kroger (KR) to the long side of Investing Ideas today:

“In raging bull markets, look for immediate-term #oversold signals in your Best Ideas. One of the Hedgeye Consumer Staples Research Team's best new ideas on the long side is Kroger (KR). They used to have it as a Best Ideas Short!

Howard Penney's decision to go long KR combines the fundamental turnaround, MPP actions by the company, and a macro overlay utilizing our Macro team’s proprietary GIP (Growth, Inflation & Policy) model.

With the KR -3.3% today on an Old Wall call, we say you buy the damn dip.

KM"

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