Trade Update: Covering ROVR and COOK
A quick update on two short ideas from November
We're closing our short calls for Rover ROVR 0.00%↑ and Traeger COOK 0.00%↑, and I've personally covered my short in COOK.
Our thesis on COOK — that it had rallied based on illogical enthusiasm toward the proposed buyout of peer Weber — has played out. COOK has declined 33% to finish regular trading Thursday at $2.74. That’s reasonably close to our $2.50 estimate of fair va…