• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

This stock's sentiment reminds me of that which used to be Budweiser's (BUD). One day, someone with Euros changed that negativity, and you know where BUD is now. I know, I know - but The Hershey Trust "will never bend". Some hedge funds have fun IM’ing one another with their narrative fallacies.

HSY reported a better than bad quarter today, and closed up +5.4% on solid volume. Short interest is vibrant at 11% of the float. If you're short it, and you think you have a unique thesis, you don't anymore (or a catalyst, for that matter).

If the stock can hold today's gains, you can buy it using a $36.17 stop loss. You'll get paid a 3.2% dividend to wait this turnaround out in the meantime.

See Howard Penney's notes for more.
KM
(chart courtesy of StockCharts.com)