Burlington Stores: Shorting The Snapback Rally
BURL's gains since November aren't as illogical as they seem — but the optimism is still too much
After a 40%-plus rally since November earnings, BURL seems like a slam-dunk short. Shares are trading at over 50x this year’s earnings while the business heads in the wrong direction.
There may be some logic to the bull case. But with another 11% tacked on already in 2023, the stock has run too far even if the bull case does play out.
There’s a str…