Hedgeye CEO Keith McCullough is adding Ulta Beauty (ULTA) to the short side of Investing Ideas. Below is a brief note.
There are plenty of selling opportunities into today's stock market close (both longs and shorts)...
One that worked recently for Brian McGough is Ulta Beauty (ULTA). Here's a good excerpt on why from his Retail Pro product:
|
ULTA Staying Short Despite Last Week’s Blow Up. We’ve been short ULTA in part because we thought that 2021 numbers needed to come down by 10-15% -- and that’s precisely what the company guided on the earnings print last week. But the company also announced a shocking CEO transition with Mary Dillon moving to an Executive Chair role for a year before leaving the organization. She’s been at the helm of ULTA during its meteoric rise over the past 8-years, and we view her stepping down at the age of 59 to be extremely bearish. |
Sellem on green,
KM
