Overlooked Alpha

Overlooked Alpha

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Research Notes: Black Friday Specials
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Research Notes: Black Friday Specials

Looking for value (and shorts) in U.S. retail stocks

Overlooked Alpha
Nov 22, 2022
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Overlooked Alpha
Overlooked Alpha
Research Notes: Black Friday Specials
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This week’s research notes is a little earlier than usual in light of Thanksgiving. Wishing all our American readers a happy holiday!

📍 TLDR

  • We take a look at the retail space ahead of Black Friday.

  • AAP looks like it could be a short; JOAN looks like it should be a short.

  • TCS shows high-risk promise; GPS can work on paper but needs a huge turnaround from Old Navy.

  • WOOF is reminiscent of pre-pandemic retailers — which is not a good thing.

After two-plus years of intense market volatility, every investor has regrets. Every one of us has sold a winner too early, ridden a loser too long, or missed a massive opportunity.

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