EXPD: One Of The Best Cyclical Shorts Left

The business is heading south. It seems likely the stock will do the same.

📍TL;DR

• One of the biggest beneficiaries of pandemic-induced supply chain snarls — but the benefits are ending quickly.

• Fourth quarter results were unprecedented, by management’s own admission, and there are three more difficult compares ahead.

• The stock has held up reasonably well — but in a nervous market, that seems likely to change.

• Long-term, the stock…