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Why did Progyny stock go down today? New short call from Hedgeye

Mar. 30, 2023 4:13 PM ETProgyny, Inc. (PGNY)By: Joshua Fineman, SA News Editor4 Comments

Waiting a baby: ultrasound results in the second trimester of pregnancy.

Sofiia Petrova/iStock via Getty Images

  • Progyny (NASDAQ:PGNY) slipped 5% amid a new short call from Hedgeye, which sees potential for 20%-30% downside for the fertility firm.
  • "While PGNY's growth has been remarkable, the environment of the last 3 years has been exceptionally positive

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Comments (4)

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My guess is the short is predicated on corporate layoffs
TigerCub911 profile picture
Well, I'm planning to buy. I don't have any position yet and the short interest is also not too high. Putting in a buy order at $22.22. We'll see
@TigerCub911 I will surprised if it drops that low. I think that is a bit too pessimistic. I am willing to add to my position in the mid 20s. If macro got that bad, the Fed would begin easing which would boost valuation.
TigerCub911 profile picture
@lbeachmike You might be right but whatever the case may be, it is speculative to begin with, so $25 or $22 won't make too much difference if it can shoot up 10-fold in a few years

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