Below is a note written by CEO Keith McCullough on why we're adding Domino's Pizza (DPZ) to the short side of Investing Ideas today:
Still looking to make sales in "Consumer" shorts that get hit in both Quad 4 and Quad 3? Howard Penney still likes Domino's Pizza (DPZ) on the short side.
It's signaling immediate-term TRADE overbought today within a Bearish @Hedgeye TREND.
Here's what Howard had to say in a recent Institutional Research note about the company's latest strategy:
"DPZ is officially on the defensive in trying to justify why cannibalization/splits/fortification is a smart business strategy. It might be the right thing for DPZ, but that strategy has never worked."
Sell on green.