Hedgeye CEO Keith McCullough is adding Dine Brands (DIN) to the short side of Investing Ideas. Below is a brief note.
Looking for #Quad3 Shorts?
Restaurants are core shorts alongside Consumer Staples (XLP), but only when they're at the top-end of their @Hedgeye Risk Ranges.
Dine Brands (DIN) is there today...
And here's Restaurants analyst Howard Penney's recent comment on the name:
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"I would love to get another opportunity to SHORT this company. There is so much hot air coming out of this management team it’s hard to take them seriously. This quote from the CFO is a great example of what we are talking about “But in response to your question about what's going to take us to the next level for both brands, we see catering as the major opportunity because we think that space has been underserved.” Catering is not underserved and every restaurant company has a catering angle! If Chili’s sees accelerating revenues from delivery it’s going to come directly from Applebee’s." |
Short the no-volume bounce to lower-highs,
KM
