I must admit, the baffling rise of this stock has almost made me cover and take my loss. But, as previously posted, my 32.55 trigger went off today, my cost basis is now around 30.78.
Oh well, luckily my overall portfolio is up since I first shorted "the Shack". The company has not changed, it is still a retailer with a shrinking market, broken business model, and facing the coming slowdown in consumer spending, and I still expect 24-25 bucks or lower by year end.
I guess I will sit back and wait. Someday this one will probably be one for the Finance school students to study. In the meantime congratulations are due to the longs who have made about 17% since I first went short.
Have a great holiday everyone, I am going to La Playa. Thank God for ZUMZ!, had a little better luck with that one.