Hedgeye CEO Keith McCullough is adding Wingstop (WING) to the short side of Investing Ideas. Below is a brief note.
You didn't think I forgot how to make timely short sales on green with US Equity Beta (SPY) at the top-end of my Risk Range, did you?
I am not supposed to "feel" anything about this gig, but I admit... I love short selling!
I've been waiting on Howard Penney's green light to re-short this COVID winner. Why? He thinks they're going to comp negative same store sales next.
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Howard on today's preannouncement: "The tailwinds in 1Q21 are stimulus checks, March Madness's return, and increased advertising; most will dissipate for the balance of the year. We are looking for -5% SSS in 2Q21." |
No, WING's management won't be pumping out preannouncements when the business is down -5%,
KM
