Red Flag Alert – Sounding the Siren on Signet
Also, an update on solar and Enphase
After reporting earnings a month ago, Signet’s stock got pummeled after missing expectations on revenue, earnings and comp-store sales... while also providing lower-than-expected guidance.
We believe this could be the start of even more shimmer coming off Signet’s SIG 0.00%↑ shine, which is why we’re adding it to the Red Flag Alerts.
Before we go further, this quick note: I first met my co-author on this RFA, Katherine, back in 2015 when I was doing short research and she had become the go-to for the short thesis on Signet. She had it nailed, with the stock ultimately getting clobbered based on what she had warned back in 2015, when it swiftly was cut in half.
Our Thesis
In short, it appears to us that investors are underestimating several important parts of the Signet story, notably...
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Solar Revisited
A big part of Wall Street Beats is our morning Beats Roundtable, a daily webcast/podcast. I’m the principle moderator. You can see clips on our YouTube page, which is free.
The Roundtable usually involves a few members of the team talking their ideas or whatever else might be on their minds.
During one of our shows last week, Russell Young and I discussed solar and Enphase ENPH 0.00%↑ , which I last wrote about here March 12 when the stock was around $128. It’s now around $107.
I originally got the idea from Russell, whom I collaborate with on occasion. You can see the full clip of our conversation regarding solar on the Roundtable by clicking on the image below.
As always, thanks for stopping by. I hope to see you at the new place. If not, I’m still here, just in an abbreviated form.
Cheers,
Herb
DISCLAIMER: This is solely my opinion based on my observations and interpretations of events, based on published facts and filings, and should not be construed as personal investment advice. (Because it isn’t!) I do not have a position in this stock.
Feel free to contact me at herb@WallStreetBeats. You can follow me on Twitter (X) and Threads @herbgreenberg.
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