We talked yesterday about the collapse of Macy's Inc. (NYSE: M) and the three "death blows" to the retail industry behind it. But we didn't discuss how to trade it.
So far Macy's stock has lost 40% in four months. It's trading near a three-year low and a P/E ratio of below 10
What happens next? Is there any upside left, or is it going down and therefore a candidate to short or buy puts on?
We talked yesterday about the collapse of Macy's Inc. (NYSE: M) and the three "death blows" to the retail industry behind it. But we didn't discuss how to trade it.
So far Macy's stock has lost 40% in four months. It's trading near a three-year low and a P/E ratio of below 10
What happens next? Is there any upside left, or is it going down and therefore a candidate to short or buy puts on?
For the last few years, the Wall Street has been a non-stop cheerleader for Macy's Inc. (NYSE: M), the iconic retailer.
But the music has stopped. Because behind the uncritical boot-licking of Wall Street analysts and television presenters and Macy's Thanksgiving Day Parade balloons, the traditional retail business was rotting away.
In the last four months, the stock has collapsed by more than 40% to $39.05. Unfortunately, a lot of investors really got hurt on this one - especially last week.
Here's the truth about Macy's direction.
