Overlooked Alpha

Overlooked Alpha

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Overlooked Alpha
Overlooked Alpha
Burlington Stores: Shorting The Snapback Rally
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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

Overlooked Alpha
Jan 15, 2023
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Overlooked Alpha
Overlooked Alpha
Burlington Stores: Shorting The Snapback Rally
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📍 TLDR

  • 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…

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