Diamonds and Dogs
Rite Aid (RAD) looking better. The retail drug store company has been on a tear since they reported better-than-expected earnings two weeks ago. Rite Aid's stock is up 11% today and up over 100% in the last month. Not bad.
Peloton (PTON) pulling back following the holiday. The interactive bike company is down 3% today after a 6% decline yesterday. Peloton made a big advertising push before the holidays with a new controversial ad which probably did work, but the valuation remains high for what many called just a bike company. At least 65% of the float is short with a couple of hedge funds like Citron and Hedgeye saying the stock has at least 50% further downside. So much for the holiday spirit.