Below is a brief note from Hedgeye CEO Keith McCullough. He is adding Square (SQ) to the short side of Investing Ideas today.
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Our payments/processors research team (Josh Steiner and Drago Malesevic) have had me waiting on an entry point to short Square (SQ) against their Mastercard (MA) and Visa (V) Longs. We think this is that entry point. Can the company successfully diversify the composition of its predominantly physical merchant base and establish a meaningful presence online amid strong competition and first mover's advantage from the likes of PayPal and Stripe? We do not think so. Short the bounce, KM |
