A long position in Macy’s looked like a hot trade but all it did was burn Anthony Scramucci. So what does he have to say about this stock, now?
The Hedge made the fateful call on November 23rd as a bet the company had turned a corner and fundamentals had gotten much more attractive. In fact it was his Hedge Fund Trade of the Week.
”This company has the highest cash flow in its peer group,” he said at the time. “It also has one of the lowest multiples. It's got great brands. It's well on it's way back up to investment grade status.”
However, after the stock’s performance, Scaramucci probably wants to duck behind one of Macy’s registers in The Cellar. Since he said to get long, Macy’s is down about 7%.
So what does he have to say about this stock, now? Find out in this web extra!