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Nordstrom is a new short idea at Hedgeye after skyrocketing on Wednesday

Mar. 03, 2022 11:37 AM ETNordstrom, Inc. (JWN)By: Joshua Fineman, SA News Editor4 Comments

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  • Nordstrom Inc. (NYSE:JWN) was added as a new short idea at Hedgeye with the potential for 40% downside for the department store chain over the next 6 to 12 months.
  • "We’re adding the short in

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Comments (4)

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MR-Tennessee profile picture
Look at Brian’s twitter feed… he was already short the stock before the rally which followed the quarterly results, he admits it in one of his tweets…
Hedgeye, never heard of it. Looked it up, a research firm which earns money from subscription based on their "Hedge fund-quality research". Think about it, if the analysts working there are any good, they would be working at a real hedge fund instead of a research firm.

Nordstrom is pretty conservative at delivering guidance based on its history. They guided 35%-37% revenue gain for fiscal 2021 but delivered 39%. So when they forecast 3.15-3.5 eps, it actually has some credit. Plus, with things opening up and everyone going back to office, i.e. even google is mandating employees going back on April 4, things look pretty good for them. Don't forget about the restart of the dividend post March audit; if things are not looking definite, the company just wouldn't do that.
SFBay Investor profile picture
Nordstrom crushed earnings and is increasingly resolving the supply problems that had impacted the prior earnings report. I think the stock easily goes to the low 30’s a share over the next 1-6 months. I think analysts just don’t know when to admit they were wrong and neither do the shorts who are calling out this name as a potential target.
vireoman profile picture
I'm taking the opposite side of that bet, but we'll see how the economy pans out this year.
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