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One of the best stocks to short now has already dropped more than 63% since Money Morning Global Credit Strategist Michael Lewitt first warned investors this stock was headed for disaster in December 2014.
But the profit opportunity for investors isn't over. In fact, Lewitt believes this company could go completely bankrupt in 2017.
This company operates in the retail industry, which has seen its fair share of bankruptcies. But the company we're targeting is in much worse shape than the rest of the industry.
The retail industry has been in decline for several years now due to online shopping. PwC did a survey of retail store visits and found that they fell over 50% from 35 billion visits in 2009 to only 17 billion visits in 2013.
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Lewitt has been warning about this company since 2014, citing poor management as the biggest factor weighing on shares. In fact, when the company issued a stock buyback a few years ago at $190 a share, Lewitt said "that was one of the grossest misuses of corporate funds in business history."
One of the best stocks to short in December has already dropped 43% year to date, trading at under $12 a share. But have no fear. Your money-making opportunity has not passed.
Lewitt is so confident that this short pick will continue its free fall that he said, "The truth is, no short portfolio is complete without this train wreck."
Here's one of the best stocks to short now…