Overlooked Alpha

Overlooked Alpha

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Overlooked Alpha
Overlooked Alpha
Traeger Is A Short Before — And After — Earnings

Traeger Is A Short Before — And After — Earnings

Leverage, valuation, and macro factors mean COOK has further to fall, even at $4 a share.

Overlooked Alpha
Nov 06, 2022
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Overlooked Alpha
Overlooked Alpha
Traeger Is A Short Before — And After — Earnings
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📍 TLDR

  • A brutal 2022 in the wake of pandemic-driven growth has sent COOK down 66% year-to-date.

  • Yet, from a fundamental perspective there’s room for more downside.

  • A leveraged balance sheet leaves no room for error, and has forced near-term choices that will have long-term effects.

  • A buyout offer at a rival catalyzed a 52% rally; another ugly quarter shoul…

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