Hedgeye CEO Keith McCullough is adding Acushnet Holdings (GOLF) to the short side of Investing Ideas. Below is a brief note.
So... you're saying people aren't gobbling up ProVs?
Here's a good short everyone can understand (that's also bouncing to lower-highs on low-volume today). Retail analyst Jeremy McLean is our resident golf pro and bear on the stock.
Here's an excerpt from his recent Institutional Research note on the name (GOLF):
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The current expectation for GOLF’s sales in 2020 is down 1.3%. And EPS down 12%. With the US at 51% of sales, EMEA at 13%, and Japan at 12%, those sales and earnings expectations are wildly off from what will be reality. As a reference in 2009 ELY sales were down 15%, EBIT was down 125%. |
Sell the bounce,
KM
