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Jan 06
Friday
Stocks

Short Yoga @ 53.50

Opened a small short Lululemon at $53.50 - all time high is $64, with current PE of 47 and market cap of 7.7b. We have been scoping out Lululemon retail shops in Australia - looks dead even during peak festive season. Checked out their products, although high quality, many are extremely overpriced compared to whats available across the road from competitors (Nike, PE 20, market cap 40B).

The fact that Goldman Sachs upgraded Lululemon to a buy also another compelling reason to short it.

Short 100 shares at $53.50.


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